Bank Nifty Bulls rallies 500 points on break of time cycle high,EOD Analysis

By | October 10, 2018
  • As Discussed in Last Analysis  Today high and low are very important as per time analysis and break of any side can easily give 150-200 points.Long above 24768 for a move towards 24912/25050. Bearish below 24460 for a move back to 24336/24192/24048. We got the expected move above 24768, and as updated on twitter during market hours High made was 25371 near our level of 25366 and closed below it. Bulls need a close above 25366 for the next round of upmove towards 25600/25776. Bearish below 25100 for a move back to 24965/24800/24666. Important intraday time for reversal can be at 9:30/1:40/3:03. Understanding Stock Market Crash

 

 

  • Bank Nifty Oct Future Open Interest Volume is at 17.2 lakh with addition of 3.9 Lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @25319 closed above it.
  • 25500 CE is having highest OI @5.8 Lakh resistance at 25500  followed 25800.  24000-26000 CE liquidated 5.2 Lakh in OI so bears covered in range 24400-24600 CE as resistance of 24800 went away ran for cover.
  • 25000 PE is having highest OI @5.1 Lakh, strong support at 25000 followed by 24500.24000-26000 PE added 10 lakh OI so bulls making support at 24500-24800 range.

 

 

Buy above 25366 Tgt 25450,25600 and 25776 (Bank Nifty Spot Levels)

Sell below 25100 Tgt 24965,24800 and 24559 (Bank Nifty Spot Levels)

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