Bank Nifty rallies 500 points ,time cycle effect in Play

  • As Discussed in Last Analysis Bank Nifty gave the big move as per our expectation and did all the target on downside. Now Bulls need to close above 24500 for a move back to 24656/24784/24920. Bearish below 24250 for a move back to 24100/23900. Bank Nifty saw the effect of 28 Oct Time cycle and above 24500 did our target of 24920. Now Bank Nifty need to close above 25080 for the upmove to continue towards 25287/25496. Bearish 24868 for a move back to 24658/24450. Important intraday time for reversal can be at 11:21/2:24. Nifty Astrological Analysis

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 16.6 lakh with liquidation of 0.99 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25131 rollover closed below it.
  • 25500 CE is having highest OI @3.2 Lakh resistance at 25500  followed 26000.  24000-27000 CE added 0.74Lakh in OI so bears added in range 25300-25500 CE.
  • 24500 PE is having highest OI @4.1 Lakh, strong support at 24500 followed by 24000.24000-26000 PE added 0.32  lakh OI so bulls did not use rally to add positions aggressively.

 

 

Buy above 25000 Tgt 25080,25170 and 25333 (Bank Nifty Spot Levels)

Sell below 24920 Tgt 24800,24700 and 24600 (Bank Nifty Spot Levels)

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Follow on Twitter:https://twitter.com/brahmesh

Leave a Reply