Bank Nifty close above vedic number 24476,EOD Analysis

By | April 3, 2018 9:36 pm
  • As Discussed in Last Analysis  Bears did 24100 below 24250 but bulls were able to hold 24250 and now need to close above 24476 for the up move to continue towards higher target of 24750/24920/25000.Bearish below 24250 for a move back to 24100/23920. Low made today was 24254 so bulls protected 24250 and also closed above 24476 suggesting we can see a good upmove towards our target of  24750/24920/25000. Bearish below 24250 for a move towards 24100/24000. Important intraday time for reversal can be at 11:17/1:19. Trading Resolution for Financial Year 2018-19

  • Bank Nifty April Future Open Interest Volume is at 16.1 lakh with addition of 0.2 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24358  closed above it.
  • 25000 CE is having highest OI @4.3 Lakh resistance at 25000 followed 25500.24000-26000 CE added 0.85 lakh in OI so bears added  position at 24800-25000.


  • 24000 PE is having highest OI @8.4 Lakh, strong support at 24200 followed by 24000.24000-26000 PE  added 0.86 lakh in OI so now 24200 will act as strong support


Buy above 24540 Tgt 24620,24700 and 24800 (Bank Nifty Spot Levels)

Sell below 24430 Tgt 24330,24250 and 24100 (Bank Nifty Spot Levels)

Category: Daily

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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