Bank Nifty rallies above 27070,EOD Analysis

By | January 5, 2019 7:59 am
  • As Discussed in Last Analysis   Now Bears need to break 26920 for a move towards 26784/26656/26500. Bullish above 27070 for a move back to 27225/27360. Low made was 26926 so bears were not able to break 26920 and we had a rally above 27070 for a move towards 27225 and closed above 27000. Now Bulls need to close above 27225 for a move towards 27360/27504/27656. Now Bears need to break 26920 for a move towards 26784/26656/26500.06 Jan Important time cycle date Intraday time for reversal can be at 11:53 /2:28 Fed Up of Losing Money from Stock market ?

  • Bank Nifty Jan Future Open Interest Volume is at 15.4 lakh with addition of 1.78 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 @5.39 Lakh resistance at 27500  followed 27700.  26000-28000 CE add liquidated 0.02 Lakh in OI so bears covered small position  in the zone of 27300-27600.
  • 27000 PE is having highest OI @6.6 Lakh, strong support at 26800 followed by 27000.26000-28000 PE added 0.92 Lakh OI so bulls making strong support in the range of 26800-27000.

Buy above 27300 Tgt 27360,27480 and 27600 (Bank Nifty Spot Levels)

Sell below 27100 Tgt 27000,26920 and 26784 (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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