Bank Nifty Technical Analysis for 14 Aug

  • As discussed in last analysis  Also tommrow we have Venus at Greatest Elong suggesting suggesting big move will come. Bulls need to move above 22464 for a move back to 22608/22752/22896. Bears will get active below 22150 for a move back to 22032/21888/21744. High made was 22439 so bulls unable to break 22464 and bears were able to close below the PRZ zone of 22370. Now Bears need to protect 22370-22400 range for the downmove towards 22032/21888/21744. Bulls will get active above 22464 for a move back to 22608/22752/22896.

  • Bank Nifty Aug Future Open Interest Volume is at 14.4 lakh with liquidation of 1.46 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @22013 closed below it.
  • 22500 CE is having highest OI @4 Lakh resistance at 22500 followed 22800.21000-23000 CE added 10 Lakh in OI so bears added position in the zone of 22500-22800.
  • 21500 PE is having highest OI @8 Lakh, strong support at 21500 followed by 21200.20000-22000 PE added 14 Lakh OI so bulls making support in the range of 21500-21300.

Buy Above 22300 Tgt 22397,22506 and 22700 (Bank Nifty Spot Levels)

Sell Below 22150 Tgt 22050,21920 and 21768 (Bank Nifty Spot Levels)

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