Bank Nifty Technical Analysis for RBI Policy

By | February 6, 2019
  • As Discussed in Last Analysis  Today was an important time cycle day break of today high 27360 can see a move of 150-200 points easily so we can move towards 27500/27533. We did not got the big move as high made was 27428 once RBI overhang is over we can see the up move as per expectation till we are holding 27150 till 27533/27648/27792 Bears will get active below 27150 for a move towards 27072/27000.

  • Bank Nifty Feb Future Open Interest Volume is at 17 lakh with addition of 1.55 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26934 closed above it.
  • 27500 CE is having highest OI @4.4 Lakh resistance at 27600  followed 27800.  26000-28000 CE added 1.76 Lakh in OI so bears added  position  in the zone of 27400-27600.
  • 27000 PE is having highest OI @4.4 Lakh, strong support at 27000 followed by 26900.26000-28000 PE liquidated 0.22 Lakh OI so bulls making strong support in the range of 26900-27000.

Buy above 27430 Tgt 27530,27610 and 27700(Bank Nifty Spot Levels)

Sell below 27350 Tgt 27250,27175 and 27072 (Bank Nifty Spot Levels)

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