Bank Nifty rallies 200 points above 27000,EOD Analysis

  • As Discussed in Last Analysis   Finally we are able to close above 27000, As discussed on Twitter  Close above/below  27000 lead to 500-1000 points move, as shown in below chart we have 5 instances in 2018 where we closed above or below 27000 and we got the move of 500-1000 points so we can expect the same 6 time also. Bears will get active below 26900 for a move towards 26784/26640/26496/26352. Bulls will get active above 27051 for a move towards 27216/27360/27504.  Bears got stopped out but bulls were long above 26920  As discussed on Twitter and added move above 27051 high made was 27210 near our target of 27216. Now Bulls closed above 27000 and has rallied 200 point we expect a min 500 points rally waiting for extended target of 27360/27504 till we are holding 27051. Bears will get active below 26900 for a move towards 26784/26640/26496/26352. Important intraday time for reversal can be at 11:14/2:11. How Trading Loss Affect a Trader

  • Bank Nifty Dec Future Open Interest Volume is at 15.4 lakh with addition of 0.57 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26532 closed above it.
  • 27500 CE is having highest OI @5.4 Lakh resistance at 27200  followed 27500.  26000-28000 CE liquidated 0.16 Lakh in OI so bears covered minor  position  in the zone of 27000-27300.
  • 26500 PE is having highest OI @6.7 Lakh, strong support at 26600 followed by 26400.26000-28000 PE added 3 Lakh OI so bulls making strong support in the range of 26300-26500.

Buy above 27216 Tgt 27300,27360  and 27444 (Bank Nifty Spot Levels)

Sell below 27050 Tgt 26950,26888 and 26800 (Bank Nifty Spot Levels)

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