Bank Nifty Resistance and Support Levels

  • As Discussed in Last Analysis   Now Bears need to close below 27225 for a move back to 27071/27000. BUlls will get active above 27300 for a move back to 27421/27555/27656. Low made today was 27317, Bulls did 1 target on upside now bulls need to close above 27460 above gann angle to become bullish for the move towards 27555/27656/27754. Bears will become active below 27300 for a move back to 27225/27100/27000. Intraday time for reversal can be at 9:18/10:27/1:45. How To NOT Blow Up Your Trading Account

  • Bank Nifty Jan Future Open Interest Volume is at 19.7 lakh with addition of 0.33 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27033 closed above it.
  • 28000 CE is having highest OI @4.5 Lakh resistance at 27800  followed 28000.  26000-28000 CE added 0.26 Lakh in OI so bears added position  in the zone of 27700-27800.
  • 27500 PE is having highest OI @8.3 Lakh, strong support at 27300 followed by 27100.26000-28000 PE added 0.70 Lakh OI so bulls making strong support in the range of 27000-27100.

Buy above 27460 Tgt 27520,27590 and 27656 (Bank Nifty Spot Levels)

Sell below 27350 Tgt 27250,27170 and 27050 (Bank Nifty Spot Levels)

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