Bank Nifty Ready for Big Move,EOD Analysis

By | January 2, 2019 11:46 pm
  • As Discussed in Last Analysis  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. We shared Levels on Twitter and they worked fine and below 27225 we did 27071 as low made was 27077. Now Bulls need to move above 27225 for a move towards 27360/27496/27656. Bears will get active below 26990 for a move back to 26920/26780/26656. As per time cycle we should see big move in bank Nifty in next 2 days.  Intraday time for reversal can be at 10:22/2:19   Reward of being a Successful trader

  • Bank Nifty Jan Future Open Interest Volume is at 15 lakh with liquidation of 0.94 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27033 closed above it.
  • 27500 CE is having highest OI @5.2 Lakh resistance at 27500  followed 27700.  26000-28000 CE added 0.83 Lakh in OI so bears added  position  in the zone of 27300-27600.
  • 27000 PE is having highest OI @5.8 Lakh, strong support at 27000 followed by 26500.26000-28000 PE added 1.58 Lakh OI so bulls making strong support in the range of 26800-27000.

Buy above 27225 Tgt 27320,27410 and 27562 (Bank Nifty Spot Levels)

Sell below 27100 Tgt 27030,26920 and 26800 (Bank Nifty Spot Levels)

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Category: Nifty Technical Analysis

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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