Bank Nifty fall 800 Points on Time Cycle Date,EOD Analysis

By | October 18, 2018
  • As Discussed in Last Analysis  Now as 25700 is an importnat supply zone fresh trades should be taken above 25700 for a move back to 25920-26000. Bearish below 25488 for a move back to 25368/25225/25100. Tomorrow another important time cycle date. Bank Nifty opened with gap up but as soon as 25488 broken made low of 25101 nears our level, We have updated on Twitter also   Bank Nifty worked as per our expectation and reacted from gann angle. Time Analysis also helped us to gain upper hand. Now Bulls need to close above 25225 for a move back 25344/25488/25632/25776. Bearish below 25050 for a move back to 24912/24768/24624/24500.  Important intraday time for reversal can be at 12:56/2:20. DivA Software for Fundamental Analysis for All Companies of BSE and NSE

 

  • Bank Nifty Oct Future Open Interest Volume is at 12.4 lakh with liquidation of 1.81 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25319 closed above it.
  • 26000 CE is having highest OI @9.2 Lakh resistance at 25500  followed 25800.  24000-27000 CE added 2 Lakh in OI so bears added in range 25500-26000 CE.
  • 24500 PE is having highest OI @8.1 Lakh, strong support at 25000 followed by 24800.24000-26000 PE added 5.2 lakh OI so bulls making support at 25000-25100 range.

 

 

Buy above 25225 Tgt 25320,25401 and 25555 (Bank Nifty Spot Levels)

Sell below 25000 Tgt 24920,24784 and 24600 (Bank Nifty Spot Levels)

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