Bank Nifty forms Doji near gann angle,EOD Analysis

By | September 29, 2018 10:59 am
  • As Discussed in Last Analysis   Bank Nifty bulls were able to protect 25000 one more time, Bullish above 25130 for a move towards 25225/25380/25452/25525. Bearish below 25000 for a move back to 24920/24784. As Expiry got over yesterday most of the poison is out of system and we are starting Oct Expiry with a 13 Lakh OI and also as we have Weekly/Monthly/Quarterly so NAV Game will come in Play. Bank Nifty bulls were able to protect 25000 one more time, Bullish above 25130 for a move towards 25225/25380/25452/25525. Bearish below 25000 for a move back to 24920/24784. Bank Nifty did 2 target on upside and 1 target on downside and again protected 25000, Bank Nifty had almost made 1000 points intraday swing yesterday suggesting the kind of volatile environment we are trading in and traders should exercise extreme caution with money and risk management.Bullish above 25130 for a move towards 25225/25380/25452/25525. Bearish below 25000 for a move back to 24920/24784.    Important intraday time for reversal can be at 11:22/1:28. Volatility is here- Tips For Traders In Volatile Markets

 

  • Bank Nifty Oct Future Open Interest Volume is at 15.7 lakh with addition of 2.3 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @25319 and Rollover %@64
  • 25500 CE is having highest OI @5.2 Lakh resistance at 25500  followed 25500.  25000-27000 CE added 2.7 Lakh in OI so bears added in range 25500-26500 CE making suggesting short term bottom in place.

 

  • 24500 PE is having highest OI @4,7 Lakh, strong support at 24800 followed by 24500.24000-26000 PE added 4.9 lakh OI so bulls having strong support in range of 24700-24800.

 

 

Buy above 25150 Tgt 25225,25343 and 25500 (Bank Nifty Spot Levels)

Sell below 25040 Tgt 24930,24850 and 24700 (Bank Nifty Spot Levels)

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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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