Bank Nifty continue to rally holding Time Cycle low ,EOD Analysis

By | June 7, 2018 7:25 pm
  • As Discussed in Last Analysis   High made today was 26425 so bulls almost did our target of 26435 and we also saw the expected move on the astrological date. Now till today low is not broken bulls will have advantage and can push index towards 26640/26784/26920. Bearish below 26150 for a move towards 26000/25920. High made today was 26766 so we did 2 target again and are up 500 points from the low on time analysis date. Now Bulls need a close above 26640 for a move towards 26773/26920. Bearish below 26352 for a move towards 26210/26064. Bank Important intraday time for reversal can be at 10:07/2:33. How to convert a small trading account to Big one

  • Bank Nifty June Future Open Interest Volume is at 26  lakh with addition of 0.80 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26408 closed below it
  • 27000 CE is having highest OI @9.2 Lakh resistance at 27000 followed 27500.26000-28000 CE added 3.4  lakh in OI so bears added  position at higher level  still resistance in range of 27000-27300.

 

  • 26000 PE is having highest OI @7.4 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 5.5 lakh in OI so bulls having strong support in range of 26100-26200.

 

Buy above 26555 Tgt 26610,26695 and 26766 (Bank Nifty Spot Levels)

Sell below 26490 Tgt 26420,26320 and 26210 (Bank Nifty Spot Levels)

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.

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