Bank Nifty corrects 400 points from 27000

By | February 16, 2019 9:45 am
  • As Discussed in Last Analysis  Bulls will get active above 27000 for a move back to 27100/27225/27360. Bears will get active below 26800 for a move back to 26666/26500. 26666 done now bulls need to close above 26820 for a move back to 26920/27030. Bears will become active below 26710 for a move back to 26610/26500/26352. Friday High and Low is very important as it was very important time cycle date we can see move of 150-200 points once high or low gets broken.

  • Bank Nifty Feb Future Open Interest Volume is at 15.8 lakh with addition of 1.29 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26934 closed below it.
  • 27500 CE is having highest OI @4.8 Lakh resistance at 27000  followed 27300.  26000-28000 CE added 1.22 Lakh in OI so bears added position  in the zone of 27100-27300.
  • 26500 PE is having highest OI @3.6 Lakh, strong support at 26600 followed by 26500.26000-28000 PE liquidated 1.6 Lakh OI so bulls making strong support in the range of 26800-26600.

Buy above 26830 Tgt 26920,27000  and 27150 (Bank Nifty Spot Levels)

Sell below 26720  Tgt 26610,26500 and 26400 (Bank Nifty Spot Levels)

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