Bank Nifty does Price Time squaring,EOD Analysis

By | May 25, 2018
  • As Discussed in Last Analysis   High made was 25903 so another time we reached around 25920 low made was 25622 near 25630 near gann angle. Bullish above 25776 for a move towards 25920/26064/26208. Bearish below 25630 for a move back to 25500/25350. Low made was 25638 so bank nifty did not break 25630 held on to its gann angle and gave the big move as we expected above 25776 towards 25920/26064, High made was 26073. Bank Nifty did a perfect price time squaring and we were able to capture most of the move. Bulls need a close above 26064 for a move back towards 25210/25360. Bearish below 25920 for a move back to 25776/25630. Bank Important intraday time for reversal can be at 10:07/12:40/2:41. How to Control Emotions While trading

  • Bank Nifty May Future Open Interest Volume is at 30.8  lakh with liquidation of 0.31 Lakh, with increase 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 @12 Lakh resistance at 26300 followed 26500.25000-27000 CE added 3 lakh in OI so bears added position at higher level making resistance in range of 26300-26500.

 

  • 25500 PE is having highest OI @9.7 Lakh, strong support at 25800  followed by 25500.25000-27000 PE  added 12.2  lakh in OI so bulls having strong support in range of 25500-25600.

 

Buy above 26064 Tgt 26140,26210 and 26320 (Bank Nifty Spot Levels)

Sell below 25910 Tgt 25830,25760 and 25650 (Bank Nifty Spot Levels)

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