Bank Nifty Does Price Time Squaring Holding 27300

By | January 17, 2019
  • As Discussed in Last Analysis   Bank Nifty Bulls were able to close above 27460 and gann angle also did the 1 target of 27555 now again waiting for move towards 27555/27656/27754. Bears will become active below 27300 for a move back to 27225/27100/27000. Tomorrow is very Important time cycle day. Bank Nifty Low made was 27335 so bulls were able to protect 27300 and today being an Important Time date so till we are holding 27300 we have done price time squaring and heading higher towards 27656/27830/27920/28100. Bears will become active below 27300 for a move back to 27225/27100/27000. Intraday time for reversal can be at 9:25/11:36/2:50. Are you Victim of “Out of Control Trading”

  • Bank Nifty Jan Future Open Interest Volume is at 21 lakh with addition of 0.60Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27033 closed above it.
  • 28000 CE is having highest OI @5,2 Lakh resistance at 27800  followed 28000.  26000-28000 CE added 0.76 Lakh in OI so bears added position  in the zone of 27700-27800.
  • 27500 PE is having highest OI @7.4 Lakh, strong support at 27300 followed by 27100.26000-28000 PE added 0.93 Lakh OI so bulls making strong support in the range of 27200-27300.

Buy above 27555 Tgt 27640,27760 and 27900 (Bank Nifty Spot Levels)

Sell below 27470 Tgt 27370,27270 and 27150 (Bank Nifty Spot Levels)

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