Bank Nifty Analysis for 13 Aug

By | August 13, 2019
  • As Discussed in Last Analysis  We got the big move as per expectation  and bank nifty closed above 28100 also. Now Bulls need to do weekly close above 28100 for move towards 28225/28395/28500. Bears will get active below 27940 for a move back to 27800/27640/27525. All Bullish target till 28500 done above 28100. Now Bank Nifty need to close above 28500 for the up move to continue till 28750/29041. Bears will get active below 28250 for a move back to 28100/27939.

  • Bank Nifty Aug Future Open Interest Volume is at 15.6 lakh with liquidation of 2 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29286  closed below it.
  • 28500 CE is having highest OI @3.5 Lakh resistance at 28000  followed 28500. 27000-30000 CE liquidated 0.70 Lakh in OI so bears covered  position in the zone of 28000-28500.
  • 27500 PE is having highest OI @2.9 Lakh, strong support at 27300 followed by 27500.27000-29000 PE added 1.4 Lakh OI so bulls making strong support in the range of 27800-28000.

Buy above 28500 Tgt 28625,28741 and  28950  (Bank Nifty Spot Levels)

Sell below 28400 Tgt 28250,28100 and 27900  (Bank Nifty Spot Levels)

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