Bank Nifty does 25000 holding 24476,EOD Analysis

By | April 9, 2018
  • As Discussed in Last Analysis  Bank Nifty made high of 24933 so we did 2 target above 24476 and almost got 500 points move in 2 trading days, power of price time analysis. Bulls now need a close above 24920 another vedic number for the up move towards 25100/25250. Bearish below 24500 for a move back to 24250/24000. We were able to capture a clean move from 1 gann angle to another. Bulls did the target of 25100, now bulls need to hold 24920 for the upmove to continue towards 25250/25500/25628. Bearish below 24920 for a move back towards 24800/24666/24476. Important intraday time for reversal can be at 10:16/12:48. Trading Resolution for Financial Year 2018-19

  • Bank Nifty April Future Open Interest Volume is at 15.7 lakh with liquidation of 0.27 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24358  closed above it.
  • 25000 CE is having highest OI @4.8 Lakh resistance at 25000 followed 25200.24000-26000 CE added 0.42 lakh in OI so bears added position at higher level

 

  • 24500 PE is having highest OI @5.8 Lakh, strong support at 24500 followed by 24200.24000-26000 PE  liquidated 0.22 lakh in OI so bulls made strong support in range of 24400-24500.

 

Buy above 25150 Tgt 25220,25300 and 25400 (Bank Nifty Spot Levels)

Sell below 25000 Tgt 24900,24800 and 24700 (Bank Nifty Spot Levels)

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Follow on Twitter:https://twitter.com/brahmesh

Leave a Reply