Bank Nifty Analysis for 13 Aug

By | August 13, 2021 6:27 am
  • As discussed in  Last Analysis  We saw the impact of astro date with bank nifty doing 2 target on downside and closed below 35937. Till Bears are below 35937 price can fall towards 35707/35555/35386. Bulls will get active above 36000 for a move back to 36178/36450/36666. Bank Nifty did 1 target on downside and failed to move above 36000 as high made was 35998 and we saw breakout above gann angle. Bulls will get active above 36000 for a move back to 36178/36450/36666.Bears need a close below 35898 for a move back to 35760/35584/35465.

  • Bank Nifty August Future Open Interest Volume is at 19 lakh with liquidation of 1.4 Lakh, with increase in Cost of Carry suggesting  SHORT positions were closed today. Bank nifty Rollover cost @34880 closed above it.
  • 36500 CE is having highest OI @4.1 Lakh resistance at 36500 followed 37000. 36500-37500 CE added 10.2 Lakh in OI so bears added position in the zone of 36500-37000.
  • 35500 PE is having highest OI @7.2 Lakh, strong support at 35500 followed by 35000.35000-36000 PE added 23 Lakh OI so bulls making support in the range of 35000-35500.

Buy Above 35950 Tgt 36055, 36175 and 36323(Bank Nifty Spot Levels)

Sell Below 35898 Tgt 35760, 35610  and 35465 (Bank Nifty Spot Levels)

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