Bank Nifty Ready for Big Move

By | August 16, 2019 12:48 am
  • As Discussed in Last Analysis  Bank Nifty Bulls now 27850 for a move back to 28000/28100. Bears will get active below 27683 for a move back to 27516/27351. Today was an Important Astro date and if low is protected we can rally back to 28100. High made was 28107 so bank nifty did 28100 above 27850. Now as per time cycle we should see another big move ,Bears will get active below 27900 for a move back to 27666/27500.Bank Nifty Bulls need to close above 28100 for a move back to 28225/28371/28500.

  • Bank Nifty Aug Future Open Interest Volume is at 15.8 lakh with liquidation of 0.90 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29286  closed below it.
  • 29000 CE is having highest OI @4.9 Lakh resistance at 28500  followed 29000. 27000-30000 CE added 1.2 Lakh in OI so bears added position in the zone of 28000-28500.
  • 27500 PE is having highest OI @3.6 Lakh, strong support at 27500 followed by 27300.27000-29000 PE added 0.03 Lakh OI so bulls making strong support in the range of 27300-27500.

Buy above 28100 Tgt 28225,28331 and  28500 (Bank Nifty Spot Levels)

Sell below 27900 Tgt 27800,27666 and 27570 (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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