Bank Nifty Bulls rallies 400 points holding 27000

By | January 1, 2019 7:46 pm
  • As Discussed in Last Analysis  Bears will get active below 26990 for a move towards 26920/26821/26666. High made today was 27286 but unable to close above 27225, Bulls need a close above 27225 for a move back to 27360/27486. Bears will get active below 26990 for a move towards 26920/26821/26666. Low made today was 27018 so bulls continue to hold 27000 and finally closed above 27225 and did our 1 target of 24360, Now till bulls are holding 27225 we can see rally all the way till 27648/27792. Bears will get active below 27200 for a move 27071/26920. Intraday time for reversal can be at 10:12/12:37/2:31   Reward of being a Successful trader

  • Bank Nifty Jan Future Open Interest Volume is at 16 lakh with addition of 1.90 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27033 closed above it.
  • 27500 CE is having highest OI @5.6 Lakh resistance at 27500  followed 27700.  26000-28000 CE added 2 Lakh in OI so bears added  position  in the zone of 27300-27600.
  • 27000 PE is having highest OI @5.6 Lakh, strong support at 27000 followed by 26500.26000-28000 PE added 2.3 Lakh OI so bulls making strong support in the range of 26800-27000.

Buy above 27430 Tgt 27520,27610 and 27662 (Bank Nifty Spot Levels)

Sell below 27260 Tgt 27200,27100 and 26920 (Bank Nifty Spot Levels)

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