Bank Nifty Finally close above 27225,EOD Analysis

By | January 7, 2019 8:46 pm
  • As Discussed in Last Analysis  Now Bulls need to close above 27225 for a move towards 27360/27504/27656. Bears need to break 26920 for a move towards 26784/26656/26500.06 Jan Important time cycle date High made today was 27477 so bulls again did 27360 and closed abvoe 27225 suggesting we can head higher towards 27504/27656. Bears will get active below 27220 for a move back to 27100/26980/26888. Intraday time for reversal can be at 12:20 /2:28 Fed Up of Losing Money from Stock market ?

  • Bank Nifty Jan Future Open Interest Volume is at 15.3 lakh with liquidation of 0.16 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 @5.1 Lakh resistance at 27500  followed 27700.  26000-28000 CE added 0.01 Lakh in OI so bears added small position  in the zone of 27300-27600.
  • 27000 PE is having highest OI @7 Lakh, strong support at 26800 followed by 27000.26000-28000 PE added 1.1 Lakh OI so bulls making strong support in the range of 26800-27000.

Buy above 27360 Tgt 27420,27500 and 27599 (Bank Nifty Spot Levels)

Sell below 27220 Tgt 27155,27071 and 26980 (Bank Nifty Spot Levels)

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Category: Bank Nifty Gann 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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