Bank Nifty does Price Time Squaring

By | February 25, 2019 6:58 pm
  • As Discussed in Last Analysis Now Till we are below 26920 bears have upper hand and can push towards 26800/26721/26610. BUlls will become active above 27000 for a move back to 27072/27150/27225.25 Feb is important time cycle date. Everything went as planned today as we saw big move on time cycle date once above 27000 bulls had upperhand and pushed bank nifty towards 2 target, and also closed above gann angle. Now waiting for higher target of 27360/27496. Bears have chance below 26990 for a move back to 26920/26810.

  • Bank Nifty Feb Future Open Interest Volume is at 11.4 lakh with liquidation of 1.37 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26934 closed above it.
  • 27500 CE is having highest OI @8.3 Lakh resistance at 27300  followed 27500.  26000-28000 CE liquidated 3.3 Lakh in OI so bears covered  position  in the zone of 27200-27300.
  • 26500 PE is having highest OI @5.9 Lakh, strong support at 26900 followed by 26800.26000-28000 PE added 10 Lakh OI so bulls making strong support in the range of 26600-26800.

Buy above 27200 Tgt 27260 ,27350 and 27444 (Bank Nifty Spot Levels)

Sell below 27070 Tgt 27000,26920 and 26830 (Bank Nifty Spot Levels)

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