Bank Nifty Bulls continue to rally holding time cycle low,EOD Analysis

By | July 10, 2018 8:00 pm
  • As Discussed in Last Analysis    Bank Nifty opened gap up and did all target on upside now bulls need to close above 26784 for a move back to 26920/27072/27216. Bearish below 26610 for a move back to 26500/26300.Low made today was 26778 so bulls got entry at 26784 and rallied to do 1 target of 26920. Now till we are holding 26920 we can rally towards the target of 27064/27216. Bearish below 26700 for a move back  to 26610/26500. We were able to capture the move from 26600-26900 as of now as per gann price time analysis. Bank Important intraday time for reversal can be at 10:18/2:24.Trading Quotes Every Trader should read

  • Bank Nifty July Future Open Interest Volume is at 25.5 lakh with addition of 2.3 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26490 closed below it.
  • 27000 CE is having highest OI @5.8 Lakh resistance at 27000 followed 27300.26000-28000 CE added 0.83 Lakh in OI so bears added major position at higher level  still resistance in range of 27000-27300

 

  • 25500 PE is having highest OI @7.2 Lakh, strong support at 26300  followed by 26000.26000-28000 PE added 0.79 OI so bulls having strong support in range of 26200-26000.

 

Buy above 26940 Tgt 27000,27064 and 27180 (Bank Nifty Spot Levels)

Sell below 26850 Tgt 26800,26710 and 26666 (Bank Nifty Spot Levels)

Category: Bank Nifty Astrology

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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