Bank Nifty Rallies on Time Cycle Date

By | August 9, 2019 12:53 am
  • As Discussed in Last Analysis  Now as per time cycle we should get big move again today. Bulls need to move above 27840 for a move towards 28000/28100. Bears will get active below 27640 for a move back to 27500/27350. We got the big move as per expectation  and bank nifty closed above 28100 also. Now Bulls need to do weekly close above 28100 for move towards 28225/28395/28500. Bears will get active below 27940 for a move back to 27800/27640/27525.

  • Bank Nifty Aug Future Open Interest Volume is at 17.7 lakh with liquidation of 0.69Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29286  closed below it.
  • 28500 CE is having highest OI @2.5 Lakh resistance at 28000  followed 28500. 27000-30000 CE added 0.70 Lakh in OI so bears added position in the zone of 27500-28500.
  • 27500 PE is having highest OI @2.9 Lakh, strong support at 27300 followed by 27500.27000-29000 PE liquidated 1.4 Lakh OI so bulls making strong support in the range of 27300-27500.

Buy above 28150 Tgt 28225,28381 and  28500  (Bank Nifty Spot Levels)

Sell below 27940 Tgt 27800,27650 and 27500  (Bank Nifty Spot Levels)

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Category: Daily

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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