Bank Nifty held to 26060 amid Intraday volatility, EOD Analysis

By | May 11, 2018
  • As Discussed in Last Analysis   High made today was 26206 so we did another target of our now till we are holding 26064 we can head towards 26352/26569. Bearish below 26000 for a move towards 25920/25776/25632. We are up 800 points from 25630 level in just 3 days effect of price time sqauring. Low made was 26057 so bulls held on to 26064 and suggesting we are heading higher towards 26352 till we are holding the support, as we are also near gann angle and important planetary events (Sun Trine Pluto and Conjunction between Mercury and Uranus) happening on 11-12 May coupled by Karnataka Election also we are near gann angle suggesting another big move round the corner.Bearish below 26000 for a move towards 25920/25776/25632.   Bank Important intraday time for reversal can be at  11:46/2:31. Using “The Greeks” To Understand Options

  • Bank Nifty May Future Open Interest Volume is at 30.6 lakh with liquidation of 2.3 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24969  closed above it and rallied 1000 points.
  • 26500 CE is having highest OI @5.1 Lakh resistance at 26300 followed 26500.25000-27000 CE added 3.2 lakh in OI so bears added MAJOR position at higher level making resistance in range of 26300-26500.

 

  • 25000 PE is having highest OI @9.8 Lakh, strong support at 25800 followed by 25500.24000-26000 PE  added 1.13  lakh in OI so bulls having strong support in range of 25500-25800.

 

Buy above 26160 Tgt 26240,26320 and 26400 (Bank Nifty Spot Levels)

Sell below 26080 Tgt 25990,25900 and 25800 (Bank Nifty Spot Levels)

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

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

Leave a Reply