Bank Nifty corrects 150 points below time cycle low on expiry day,EOD Analysis

By | August 30, 2018 8:48 pm
  • As Discussed in Last Analysis  As we have time cycle date today so break of 28151 we should easily see a move of 150-200 points on downside  28000/27920/27739 and if break of today high 28344 we can again see move of 150-200 points towards 28512/28656.  We got the expected 150 points down move below the time cycle low of 28151.Till we are below 28151 bears have upper hand can push index towards 28000/27920/27739.Bullish above 28225 for a move back to 28344/28512/28656.  Important intraday time for reversal can be at 10:17/2:34. Honored to be part Online Trading Summit

 

  • Bank Nifty Sep Future Open Interest Volume is at 16.4 lakh with addition of 5.9 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @28307 and Rollover %@ 65
  • 29000 CE is having highest OI @6.6 Lakh resistance at 28500 followed 29000.  27000-29000 CE added 3.9 Lakh in OI so bears added at 28500-29000 at the start of the series.

 

  • 27000 PE is having highest OI @6.6 Lakh, strong support at 27800 followed by 27300.27000-29000 PE added 1.8 lakh OI so bulls having strong support in range of 27700-27500 at start of the series.

 

 

Buy above 28150 Tgt 28225,28370 and 28500 (Bank Nifty Spot Levels)

Sell below 28060 Tgt 27970,27900 and 27820(Bank Nifty Spot Levels)

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Follow on Twitter:https://twitter.com/brahmesh

Leave a Reply