Bank Nifty trading set up amid geopolitical tensions

  • As discussed in Last Analysis   Bullish above 24510 for a move towards 24750/25000. High made was 24494 so still bulls are not able to close above 24480 our vedic number which gave very good trades in last month and also 24510, Time cycle will start showing effect once we move above 24510 which is gann angle resistance as seen in below chart for a quick move towards 24750/25000. Bearish below 24200 for a move towards 23963/23830. High made was 24459, so bulls were not able to cross 24510 and bears broke bank nifty below but were not able to close below it. Price know everything well in advance,we have 24510 levels set up and bank nifty was not able to to cross it.Bearish below 24200 for a move towards 23963/23830.  Bullish above 24510 for a move towards 24750/25000.IN between 24200-24510 ping pong continues.   Trickle or a raging river, money is a lot like water

  • Bank Nifty Sep Future Open Interest Volume is at 18.7 lakh with addition of 0.06 Lakh, with decrease in Cost of Carry suggesting Short positions were added today. Bank nifty Rollover cost @24345 closed below it.

 

  • 25000 CE is having highest OI @6.8 Lakh resistance at 24500 followed 25000. 24000-26000 CE added 0.54 lakh so bears position  in 24500/25000 CE.

 

  • 24000 PE is having highest OI @7.1 Lakh, strong support at 24000 followed by 23800, Bulls added 0.86 Lakh position in OI in range of 24000-26000.

 

Buy above 24300 Tgt 24400,24510 and 24610(Bank Nifty Spot Levels)

Sell below 24200 Tgt 24110,24000 and 24920 (Bank Nifty Spot Levels)

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