Bank Nifty Close below 27000

By | January 3, 2019 8:37 pm
  • As Discussed in Last Analysis  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. High made today was 27206 so bulls unable to break 27225 and below 26990 we did our 1 target of 26920 low made was 26923 also we closed below 27000 which is not a good sign if we close below 27000 again tomorrow we can see 400-500 points.  Now Bears need to break 26920 for a move towards 26784/26656/26500. Bullish above 27070 for a move back to 27225/27360Intraday time for reversal can be at 11:50 /2:26  Fed Up of Losing Money from Stock market ?

  • Bank Nifty Jan Future Open Interest Volume is at 13.7 lakh with liquidation of 1.34 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27033 closed above it.
  • 27500 CE is having highest OI @5.6 Lakh resistance at 27500  followed 27700.  26000-28000 CE added 0.41 Lakh in OI so bears added  position  in the zone of 27300-27600.
  • 26500 PE is having highest OI @4.9 Lakh, strong support at 26500 followed by 26300.26000-28000 PE added 0.74 Lakh OI so bulls making strong support in the range of 26800-27000.

Buy above 27050 Tgt 27125,27225 and 27360 (Bank Nifty Spot Levels)

Sell below 26920 Tgt 26860,26760 and 26656 (Bank Nifty Spot Levels)

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