Bank Nifty Analysis for 27 Aug

By | August 27, 2021 7:00 am
  • As discussed in  Last Analysis  Bulls failed to do the 1 target on upside and bears were able to close below 35610 now waiting for the target of 35525/35432/35344/35250.Today we have Moon Declination suggesting next 2 days we will get another big move. Bulls will get active above 35688 for a move towards 35782/35877/35972/36067. Bank Nifty did 2 target on downside and 1 target on upside, For August Series We started at 34691 and closed at 35617 so just a 1000 points move in Bank Nifty, Price has been struggling at gann angle as shown in below chart, with time cycle coming we could see potential big move as price time meets. Bulls need move above 35694 for a move towards 35937/36172. Bears will get active below 35502 for a move back to 35344/35193/35040.

  • Bank Nifty Rollover cost @35609 closed above it. From 24th August  till 27th August , The September Series Bank NIfty Futures has added approximately 8.7 Lakh OI. And in that time span,Bank  Nifty has traded with a low of 35229 and high of 36019. We should see Voilent move once this range is crossed during September series. 
  • Bank Nifty Sep Future Open Interest Volume is at 14.6  lakh with addition of 2.7 Lakh, with increase in Cost of Carry suggesting  SHORT positions were added today.
  • BN OI has been one of the lowest during last dew months on start of new Series. It basically tells me that the FII have chosen BN as the trading instrument for the month – which can be moved around violently due to the low OI.
  • There is total OI of 27.1 Lakh on the Call side and 23.9 Lakh on the Put side. So, the activity is more on the Call side, indicating Option Writers are having Bearish Bias.
  • The Option Table data indicates decent support at 35000 and reasonable resistance at 36000 at the start of new Weekly Expiry

Buy Above 35695 Tgt 35789, 35883 and 35978 (Bank Nifty Spot Levels)

Sell Below 35502 Tgt 35408, 35314 and 35220 (Bank Nifty Spot Levels)

4 thoughts on “Bank Nifty Analysis for 27 Aug

  1. Shraddha

    Thanks a lot for your efforts in helping us. God bless you. I have a question, can we create a straddle at the buy above and sell below level?

  2. eternallearner

    What an insightful detailed analysis.Just AMAZING.THANKS S S FOR HELPING SO MANY INVESTORS/TRADERS.

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