Bank Nifty ready for Big move as per time cycle

By | August 26, 2017 7:08 am
  • As discussed in Last Analysis   Bank Nifty opened gap up above 24000,hitting stop loss for traders who were short and once 24260 crossed rallied back to 24350 and holding 24260 can rally towards 24470 which is our vedic number which has given very good trades in this month. Bearish below 24100 for a move towards 23900/23755. 24 Aug is again a time cycle date so trade cautiously. High made was 24411 and closed above 24260 so bulls are having upper hand, 26 is time cycle date of bank nifty effect of which will be seen on Monday, Bearish below 24200 for a move towards 23955/23860/23755. Bullish above 24480 for a move towards 24682/24800.   How to deal with Trading Losses

 

 

  • Bank Nifty Aug Future Open Interest Volume is at 15.7 lakh with liquidation of 2.5 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24665 closed below it.
  • 25000 CE is having highest OI @11.4 Lakh resistance at 24500 followed 25000. 23500-26000 CE added 9.6 lakh so bears huge  position  in 24300/24500 CE.
  • 24000 PE is having highest OI @12.9 Lakh, strong support at 24000 followed by 23800, Bulls added 5.7 Lakh position in OI in range of 24000-26000 with major addition coming in 24000-24300 PE.

Buy above 24320 Tgt 24380,24470 and 24530(Bank Nifty Spot Levels)

Sell below 24250 Tgt 24150,24050 and 23950 (Bank Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates

Click Here to Join me on Twitter

Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

One thought on “Bank Nifty ready for Big move as per time cycle

Leave a Reply