Bank Nifty ready for Big Move

By | January 10, 2019 8:49 pm
  • As Discussed in Last Analysis  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. High made today was 27713 so bulls unable to cross 27740 and bears also unable to break 27360 we formed inside day pattern also 12 Jan is important Astro Date suggesting big move round the corner.Bull will become active above 27556 for a move towards 27648/27740/27889. Bearish below 27360 for a move back to 27225/27100. Intraday time for reversal can be at 11/12:27/2:04. How To NOT Blow Up Your Trading Account

  • Bank Nifty Jan Future Open Interest Volume is at 20.3 lakh with liquidation of 0.49 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27033 closed above it.
  • 28000 CE is having highest OI @4.4 Lakh resistance at 27800  followed 28000.  26000-28000 CE added 0.84 Lakh in OI so bears added small position  in the zone of 27900-28000.
  • 27500 PE is having highest OI @8.4 Lakh, strong support at 27400 followed by 27100.26000-28000 PE added 0.92 Lakh OI so bulls making strong support in the range of 27300-27500.

Buy above 27580 Tgt 27656,27740 and 28810 (Bank Nifty Spot Levels)

Sell below 27480 Tgt 27420,27360 and 27225 (Bank Nifty Spot Levels)

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