Will Bank Nifty Bull hold 24480 ,EOD Analysis

By | August 8, 2017 11:23 pm
  • As discussed in Last Analysis   Now bulls need a close above 25000 for a move towards 25250/25440/256000. Bears need close below 24800 for a move towards 24620/24480/24250/24000. High made today was 24966 so bulls were unable to close above 25000 and as soon as 24800 is broken bears were having upper hand and did low of 24534 doing our 1 target of 24620. Bulls should hold 24480-476 range for the correction to be over, Bullish above 24626 for a move towards 24800/24928. Bears will become more strong below 24450 for a move towards 24299/24066   How to deal with Stress during trading

  • Bank Nifty Aug Future Open Interest Volume is at 24.7 lakh with addition of 2.2 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24665
  • 25000 CE is having highest OI @7.5 Lakh resistance at 25000 followed 25300. 24000-26000 CE added 4.2 lakh so Bears added major  position in 25000-25500 range.
  • 24500 PE is having highest OI @8.9 Lakh, strong support at 24500 followed by 24000, Bulls liquidated 0.53 Lakh position in OI in range of 24000-26000 making strong base in range of 24000-24200.

Buy above 24630 Tgt 24700,24850 and 24950(Bank Nifty Spot Levels)

Sell below 24530 Tgt 24450,24330 and 24250 (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.

2 thoughts on “Will Bank Nifty Bull hold 24480 ,EOD Analysis

Leave a Reply