Bank Nifty does 25000 Holding 24480

  • As discussed in Last Analysis  Fresh longs should be taken above 24649 for a move towards 24760/24840/25000. Low made today was 24484 so bulls protected 24476-24480 range and also closed above 24650 suggesting we are heading higher towards 24760/24840. Close below 24450 we can see correction till 24260/24120/24000. So Bulls finally did the target of 25000, up 700 points from the time cycle low formed on 21 July. Vedic number of 24480 helped us in going long with confirmation above 24650 and did the final target of 25000. Now we are nearing the gann angle resistance move below 24800 can see correction towards 24480/24200. Bullish above 25000 for a move towards 25200-25284.   Do you know your Risk of Ruin in trading ?

  • Bank Nifty Aug Future Open Interest Volume is at 25 lakh with addition of 8.6 Lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover cost @24665,and rollover %@75

 

Buy above 24960 Tgt 25030,25150 and 25270(Bank Nifty Spot Levels)

Sell below 24900 Tgt 24800,24680 and 24500 (Bank Nifty Spot Levels)

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