Bank Nifty continue to face resistance at 29791

By | March 19, 2019
  • As Discussed in Last Analysis Now Fresh long should be taken above 29791 for a move towards 29929/30125. Bears will get active below 29350 for a move for a move back to 29210/29125/29000. High made today was 29799 so again Bank Nifty facing resistance at vedic number 29791. Fresh long should be taken above 29791 for a move towards 29929/30125. Bears will get active below 29500 for a move for a move back to 29376/29241/29088.

  • Bank Nifty March Future Open Interest Volume is at 26.4 lakh with addition of 0.32 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27064  closed above it,Low made Friday was 27051 and rallies 2500  points
  • 29500 CE is having highest OI @2.4 Lakh resistance at 29500  followed 29800.  27000-29000 CE liquidated 0.26 Lakh in OI so bears  covered  position  in the zone of 29500-29800
  • 28500 PE is having highest OI @4.5 Lakh, strong support at 28800 followed by 28500.26000-28000 PE added 4.5 Lakh OI so bulls making strong support in the range of 28800-29000.

Buy above 29800 Tgt 29862 ,29957 and  30110 (Bank Nifty Spot Levels)

Sell below 29700 Tgt 29610,29470 and 29360 (Bank Nifty Spot Levels)

Follow on Twitter:https://twitter.com/brahmesh

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Youtube Channel: https://www.youtube.com/channel/UCxTIpotKybyOQIDsS3eEqhQ

Leave a Reply