Bank Nifty gave big move as per time cycle,EOD Analysis

By | May 7, 2018
  • As Discussed in Last Analysis  Another day passed and bank nifty held on to its gann angle, and closed above 25645. So we are heading towards 25777/25920/26050. Bearish below 25344 for the downmove towards 25200/25050. Expect good move in bank nifty in next 2 days. 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 26064/27208/27352/26569. Bearish below 25632 for a move back to 25448/25344/25200. Bank Important intraday time for reversal can be at  12:36/2:18. Using “The Greeks” To Understand Options

  • Bank Nifty May Future Open Interest Volume is at 27.9 lakh with addition of 3.3 Lakh, with increase 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 @5.5 Lakh resistance at 26000 followed 26300.24000-26000 CE added 1.6 lakh in OI so bears added minor position at higher level making resistance in range of 26000-26300.

 

  • 24500 PE is having highest OI @9.7 Lakh, strong support at 25300 followed by 25000.24000-26000 PE  added 0.34 lakh in OI so bulls having strong support in range of 25200-25300.

 

Buy above 25866 Tgt 25920,26000 and 26066 (Bank Nifty Spot Levels)

Sell below 25800 Tgt 25720,25650 and 25555 (Bank Nifty Spot Levels)

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