Bank Nifty near Price Time Squaring,EOD Analysis

By | March 2, 2018
  • As Discussed in Last Analysis Double top showed effect, Bank Nifty opened gap down but again took support at gann angle as shown below, Now bulls need a close above 25200 for a move back towards 25281/25344/25488/25600. Bearish below 24964 for a move towards 24768/24626/24500. Confluence of important time cycle date is coming on 02-04 March. Bank Nifty closed below 24964 and should do the lower target of 24768. Bullish above 24912 for a move towards 25056/25250. 25000. Confluence of important time cycle date is coming on 02-04 March. Bank Nifty is near price time squaring level as both price and time are meeting good move will be seen next week. Important intraday time for reversal can be at 10:20/2:20 How to stay grounded in Trading.

  • Bank Nifty March Future Open Interest Volume is at 17.1 lakh with liquidation of 0.38Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25010, rallied 700 points.
  • 26000 CE is having highest OI @6 Lakh resistance at 25500 followed 26000.25000-27000 CE added 2 lakh in OI so bears added position at higher levels.

 

  • 25000 PE is having highest OI @5.8 Lakh, strong support at 25000 followed by 24800.25000-27000 PE  liquidated 0.4 lakh in OI support at 25200-25300.

 

Buy above 24920 Tgt 24994,25150 and 25250 (Bank Nifty Spot Levels)

Sell below 24850 Tgt 24770,24666 and 24555 (Bank Nifty Spot Levels)

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