Bank Nifty break 28200 on Time cycle date,EOD Analysis

By | August 11, 2018
  • As Discussed in Last Analysis   Bank nifty did our 2 targets again now waiting for final target of 28404.Now Bulls need to hold 28236 for up move to continue towards 28488/28573. Bearish below 28200 for a move back to 28064/27970.We have important time cycle coming on 11 Aug, effect can be seen tomorrow or Monday. Bank Nifty broke 28200 and and almost did our 1 target. Now till we are below 28200 bears have upper hand and can push index all the way till 27940/27792/27648.Bullish above 28400 for a move back to 28512/28650. Time cycle date has shown effect and we can see fall of 200-300 points easily till we do not break 28377 time cycle date high. Important intraday time for reversal can be at 10:03/12:36. Trading With Your Own Money

  • Bank Nifty Aug Future Open Interest Volume is at 27.4  lakh with liquidation of 1.5 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @27128 closed above it.
  • 28500 CE is having highest OI @6.8 Lakh resistance at 28300 followed 28500.26500-28500 CE liquidated 0.61 Lakh in OI so bears covered  position at higher level still resistance in range of 28400-28500.

 

  • 27000 PE is having highest OI @7.7 Lakh, strong support at 27000 followed by 27500.26500-28500 PE added 0.15 lakh OI so bulls having strong support in range of 27500-27600.

 

 

Buy above 28200 Tgt 28300,28401 and 28550 (Bank Nifty Spot Levels)

Sell below 28060 Tgt 28000,27920 and 27784 (Bank Nifty Spot Levels)

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