Bank Nifty does Perfect Price Time Squaring, EOD Analysis

By | September 25, 2018
  • As Discussed in Last Analysis  Now as 25 Sep is an important time cycle date, we can expect a reversal for short term bounce. We might do price time squaring if we held to the low of 24900.Bullish above 25050 for a move back to 25344/25488/25632. Bearish below 24900 for a move back to 25768/24624/24480. It was a volatile ride today but end of the day Bull emerged victorious after a continuous bashing by bears for last few days. Bulls did a perfect price time squaring today, Now Bulls need to hold 25050 for the up move to continue towards 25488/25632/25770. Bearish below 25000 for a move back to 24912/24768/24624.  Important intraday time for reversal can be at 9:44/11:10/2:10. Volatility is here- Tips For Traders In Volatile Markets

 

  • Bank Nifty Sep Future Open Interest Volume is at 15.3 lakh with liquidation of 4.6 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @28307 closed below it and corrected 2800 points.
  • 26000 CE is having highest OI @6.6 Lakh resistance at 25500  followed 25800.  25000-27000 CE liquidated 8.7 Lakh in OI so bears ran for cover in 25500-25600 CE making suggesting short term bottom in place.

 

  • 25000 PE is having highest OI @5.9 Lakh, strong support at 25000 followed by 24800.25000-27000 PE added 3.6 lakh OI so bulls having strong support in range of 25000-25100.

 

 

Buy above 25410 Tgt 25496,25598 and 25666 (Bank Nifty Spot Levels)

Sell below 25250 Tgt 25140,25000 and 24880 (Bank Nifty Spot Levels)

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