Bank Nifty rallies 500 points above 27225 ,EOD Analysis

By | January 9, 2019 8:53 pm
  • As Discussed in Last Analysis  Now Bulls need to close above 27556-27570 range which is important supply zone also gann angle resistance as shown below, Close above it we can see rally all the way towards 27889/28000. Bears will get active below 27220 for a move back to 27100/26980/26888. Bank Nifty Level we gave on Twitter and they worked perfectly IN VOLATILE Market we had today, Now above 27740 bulls can continue rally towards 27889/28000. We are  up 500 points from 27225 level and we saw big move above 08 Jan our time cycle high. Bears will get active only below 27360 for a move back to 27225/27071. Intraday time for reversal can be at 10:32/12:11 Qualities Every Trader must have

  • Bank Nifty Jan Future Open Interest Volume is at 20.8 lakh with addition of 1.1 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 Lakh resistance at 27800  followed 28000.  26000-28000 CE added 0.65 Lakh in OI so bears added small position  in the zone of 27900-28000.
  • 27500 PE is having highest OI @7.8 Lakh, strong support at 27400 followed by 27100.26000-28000 PE added 2.4 Lakh OI so bulls making strong support in the range of 27300-27500.

Buy above 27760 Tgt 27850,27930 and 28000 (Bank Nifty Spot Levels)

Sell below 27610 Tgt 27510,27425 and 27300 (Bank Nifty Spot Levels)

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Category: Bank Nifty Time Cycle

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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