Bank Nifty Bulls continue to face resistance at 27000

  • As Discussed in Last Analysis  Bulls will become active above 26700 for a move towards 26789/26850/26920/27000. All Bullish target done High made was 26996 near our vedic number 27000  and near gann angle resistance,again tanked 400 points. Bulls will become active again at 26784 for a move towards 26920/27000. Bears will become active below 26610 for a move back to 26500/26352.

  • Bank Nifty Feb Future Open Interest Volume is at 15.3 lakh with liquidation of 0.82 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26934 closed below it.
  • 27500 CE is having highest OI @4.7 Lakh resistance at 27000  followed 27300.  26000-28000 CE added 1.15 Lakh in OI so bears added position  in the zone of 26900-27000..
  • 26000 PE is having highest OI @5.4 Lakh, strong support at 26600 followed by 26500.26000-28000 PE liquidated 0.45  Lakh OI so bulls making strong support in the range of 26500-26600.

Buy above 26780 Tgt 26850 ,26930 and 27030  (Bank Nifty Spot Levels)

Sell below 26650 Tgt 26575,26485 and 26400 (Bank Nifty Spot Levels)

Follow on Twitter:

Follow on Facebook

Leave a Reply