Bank Nifty close above 27000

By | February 22, 2019
  • As Discussed in Last Analysis   Bulls will become active again at 27000 for a move towards 27070/27150/27225. 27070 done and now waiting for 27150/27225 till we are holding 27000. Bears will become active below 26990 for a move back to 26920/26800.25 Feb is important time cycle date so effect will be seen today or Monday.

  • Bank Nifty Feb Future Open Interest Volume is at 12.3 lakh with liquidation of 1.59 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26934 closed above it.
  • 27500 CE is having highest OI @5.5 Lakh resistance at 27300  followed 27500.  26000-28000 CE added 6.3 Lakh in OI so bears added position  in the zone of 26300-27500.
  • 26000 PE is having highest OI @5.3 Lakh, strong support at 26800 followed by 26600.26000-28000 PE added 9.6 Lakh OI so bulls making strong support in the range of 26600-26800.

Buy above 27100 Tgt 27150 ,27225 and 27305 (Bank Nifty Spot Levels)

Sell below 26980 Tgt 26920,26855 and 26784 (Bank Nifty Spot Levels)

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