Bank Nifty Bulls able to close above 26640,EOD Analysis

By | September 13, 2018
  • As Discussed in Last Analysis  When Price and time meets big move happen, so we had an important time cycle date today combined with the break of 27180/gann angle  we saw a big downside move which did all our target on downside. Any move below 26772 can see fast move towards 26640 which is an important vedic number, If held we can see relief rally  else more downside towards 26530/26352/26208. Low made on Wednesday 26555 and close above 26640, Now bulls need to close above 26889 for a move back to 26994/27070/27225. Bearish below 26750 for a move back to 26640/26555/26430.  Important intraday time for reversal can be at 11:24/2:12. Sneak Peek into Online Trading Summit

 

  • Bank Nifty Sep Future Open Interest Volume is at 18.6 lakh with addition of 0.08 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @28307 closed below it and corrected 1800 points.
  • 27500 CE is having highest OI @6.8 Lakh resistance at 27000 followed 27300.  26000-28000 CE added 5.6 Lakh in OI so bears continue to  add at 27000-27500 CE.

 

  • 26500 PE is having highest OI @3.8 Lakh, strong support at 26700 followed by 26500.26000-28000 PE added 1.4  lakh OI so bulls having strong support in range of 26500-26600.

 

 

Buy above 26896 Tgt 26977,27060 and 27159 (Bank Nifty Spot Levels)

Sell below 26750 Tgt 26700,26640 and 26496(Bank Nifty Spot Levels)

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