Bank Nifty see waterfall decline once Time Cycle low broken

By | September 27, 2017 9:59 pm
  • As discussed in Last Analysis  Bullish above 24367 for a move towards 24480/24650. Bank Nifty continue to hold 24000, and today was trend change date so todays high and low are important break of 24236 will see move towards 24480/24610. Bearish below 23963 for next move towards 23755/23540. What a day its a perfect day for trader who follow gann rules, We told to keep an eye on high and low of trend change date and as soon low was broken which was 24000 and our price level was 23963 free fall started and stopped exactly near our target of 23755 low made was 23766, Break of 23755 we can see the fall continue towards 23540/23300 which also Shark pattern target as per Weekly Analysis. Bullish only above 24000 for a move towards 24240/24480.  Do You Stick to Losing Positions in Trading ?

  • Bank Nifty Sep Future Open Interest Volume is at 14.9 lakh with liquidation of 3.2 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24345 closed below it corrected  600 points below it.


  • 24000 CE is having highest OI @10.2 Lakh resistance at 24000 followed 23800.Expiry seems to be below 24000.


  • 23500 PE is having highest OI @7.3 Lakh, strong support at 23500 followed by 24000.23500 can prove support if the fall continue.


Buy above 23855 Tgt 23970,24120 and 24220 (Bank Nifty Spot Levels)

Sell below 23716 Tgt 24625,23500 and 23425 (Bank Nifty Spot Levels)

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Category: Bank Nifty Time Cycle

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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