Bank Nifty does 26000 after doing price time squaring,EOD Analysis

By | May 8, 2018
  • As Discussed in Last Analysis  High made today was 25913 so we got the big move as per time cycle analysis and also did 300 points above 25630. Bank Nifty bounced from gann angle with  time cycle  date suggesting price time squaring.  Bullish above 25920 for a move back to 26064/26208/25352/26569. Bearish below 25632 for a move back to 25448/25344/25200. Bank Nifty did 26064 so after doing price time squaring at 25630 bank nifty up by 500 points, Now bulls need to hold 26000 for the next move towards 26064/26208/25352/26569. Bearish below 25920 for a move back towards 25776/25632.  Bank Important intraday time for reversal can be at  10:07/2:18. Using “The Greeks” To Understand Options

  • Bank Nifty May Future Open Interest Volume is at 31.9 lakh with addition of 3.9 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24969  closed above it and rallied 1000 points.
  • 26000 CE is having highest OI @6.1 Lakh resistance at 26000 followed 26300.24000-26000 CE added 1 lakh in OI so bears added minor position at higher level making resistance in range of 26300-26500.

 

  • 25000 PE is having highest OI @8 Lakh, strong support at 25800 followed by 25500.24000-26000 PE  added 1.5  lakh in OI so bulls having strong support in range of 25500-25800.

 

Buy above 26120 Tgt 26210,26320 and 26400 (Bank Nifty Spot Levels)

Sell below 26050 Tgt 25970,25900 and 25830 (Bank Nifty Spot Levels)

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