How Bank Nifty Will reach to State Election Result

By | December 10, 2018 11:04 pm
  • As Discussed in Last Analysis   Bank Nifty did a perfect trade low made was 26252 near our entry level  and did all target on upside and again took resistance at gann angle as shown in below chart, As cautioned never take overnight position when we have Exit Poll news lined up, Bank Nifty likely to open gap down bulls need to protect 26314 if we get gap down. Bears will get active below 26300 for a move towards 26100/25795. RBI Governor Resigned price know about the news well in advance as we closed below 26300 and mostly will do the target of 25795 tomorrow opening,Below 25795 next important support are at 25496/25277/25000/24758. Bullish above 26225 for a move back to 26314/26500/26832. Trade Cautiously as we will see lot of volatility tomorrow.   Important intraday time for reversal can be at 10:07/12:10/2:55. For Bank Nifty Analysis on Election Day Watch this Video
  • Bank Nifty Dec Future Open Interest Volume is at 13.4 lakh with liquidation of 3.2 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @26532 closed below it.
  • 27000 CE is having highest OI @5Lakh resistance at 26500  followed 27000.  26000-28000 CE added 3.43 Lakh in OI so bears making resistance in the zone of 26000-26300.
  • 26000 PE is having highest OI @7.9 Lakh, strong support at 25500 followed by 25200.26000-28000 PE added 0.23 Lakh OI so bulls making strong support in the range of 25500-25300.

Buy above 25900 Tgt 26000,26125 and 26270 (Bank Nifty Spot Levels)

Sell below 25850 Tgt 25740,25600 and 25496 (Bank Nifty Spot Levels)

Follow on Facebook

Follow on Twitter:

Category: Daily Tags:

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.

Leave a Reply