Bank Nifty Analysis for 01 Jan 2019

  • As Discussed in Last Analysis  Low made was 27039 and high made was 27213 near our target of 27225. Now bulls will have upper hand till we close above 27039 time cycle low. Bulls need a close above 27225 for a move back to 27360/27486. Bears will get active below 26990 for a move towards 26920/26821/26666. High made today was 27286 but unable to close above 27225, Bulls need a close above 27225 for a move back to 27360/27486. Bears will get active below 26990 for a move towards 26920/26821/26666.Important intraday time for reversal can be at 1:16. May the New Year bring you unending Joy, peace and prosperity! Happy 2019!  Reward of being a Successful trader

  • Bank Nifty Jan Future Open Interest Volume is at 14 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27033 closed above it.
  • 27500 CE is having highest OI @5.6 Lakh resistance at 27300  followed 27500.  26000-28000 CE added 2 Lakh in OI so bears added  position  in the zone of 27300-27600.
  • 27000 PE is having highest OI @5.6 Lakh, strong support at 27000 followed by 26500.26000-28000 PE added 2.3 Lakh OI so bulls making strong support in the range of 26800-27000.

Buy above 27190 Tgt 27250,27360 and 27444 (Bank Nifty Spot Levels)

Sell below 27100 Tgt 27010,26920 and 26800 (Bank Nifty Spot Levels)

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2 thoughts on “Bank Nifty Analysis for 01 Jan 2019”

  1. Hi Sir, Pls can you suggest level for bears to active
    “Bears will get active below 2 for a move towards 26920/26821/26666”

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