Bank Nifty Analysis for May Series

By | April 26, 2018
  • As Discussed in Last Analysis  As we have expiry tommrow break of 24768  can see fast move till 24624/24480. Bullish above 24920 can see fast move till 25050/25200. 24768 was broken in first 5 mins and immediately recovered and as soon as 24920 was broken bulls did the target of 25050, High made was 25064 and closed below it. I have changed the gann angle vibration to get the clear picture for coming series. As seen below we are stuck in the range and bulls need a close above 25050 for a move towards the higher end of range ie. 25250/25400/25555. Bearish below 24920 for a move back towards 24768/24500/24220. Bank Important intraday time for reversal can be at 10:01/ 12:20/2:39 .  Trading Resolution for Financial Year 2018-19

  • Bank Nifty May Future Open Interest Volume is at 20.7 lakh with addition of 8.9 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24969  closed above it.

 

Buy above 25050 Tgt 25125,25250 and 25400 (Bank Nifty Spot Levels)

Sell below 24912 Tgt 24830,24750 and 24600 (Bank Nifty Spot Levels)

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