Bank Nifty rallies 1000 points from 26 Nov Time Cycle

By | November 29, 2018 8:34 pm
  • As Discussed in Last Analysis  High made today was 26584 and we continue to trade higher as tomorrow is important time cycle date good move should be seen in Bank Nifty in next 2 days. Bullish till we are holding 26320 for the up move to continue towards 26640/26784/26850.Bearish below 26300 for a move back to 26100/25920.  We got the big move as we anticipated and bank nifty surpassed our target so time cycle again worked perfectly and we were able to capture a 1000 points from low of 26 Dec our time cycle date till today. Now Bulls need a close above 27000 for the rally to continue till 27216/27360/27500. Bears will get active below 26780 for a move back to  26640/26496/26352.Important intraday time for reversal can be at 12:23/2:32. Not able to pull the trigger in Trading

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 19.2 lakh with addition of 11.7  Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26532 rollover %@71.1
  • 27500 CE is having highest OI @2.6 Lakh resistance at 27300  followed 27500.  26000-28000 CE added 2.8 Lakh in OI so bears making resistance in the zone of 27300-27500.
  • 26000 PE is having highest OI @6.5 Lakh, strong support at 26500 followed by 26000.24000-26000 PE added 5.2 Lakh OI so bulls making strong support in the range of 26000-26300.

 

 

Buy above 27000 Tgt 27103,27200 and 27351 (Bank Nifty Spot Levels)

Sell below 26888 Tgt 26820,26730 and 26654 (Bank Nifty Spot Levels)

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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