Bank Nifty Technical Analysis

  • As Discussed in Last Analysis   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. Bank Nifty Bulls were able to close above 27460 and gann angle also did the 1 target of 27555 now again waiting for move towards 27555/27656/27754. Bears will become active below 27300 for a move back to 27225/27100/27000. Tomorrow is very Important time cycle day. Intraday time for reversal can be at 10:29/2. How To NOT Blow Up Your Trading Account

  • Bank Nifty Jan Future Open Interest Volume is at 20.4 lakh with addition of 0.71 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27033 closed above it.
  • 28000 CE is having highest OI @4.3 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 @7.9 Lakh, strong support at 27300 followed by 27100.26000-28000 PE added 0.66 Lakh OI so bulls making strong support in the range of 27000-27100.

Buy above 27525 Tgt 27610,27690 and 27756 (Bank Nifty Spot Levels)

Sell below 27450 Tgt 27360,27270 and 27150 (Bank Nifty Spot Levels)

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