Bank Nifty forms NR7 near gann date of 28 Aug

By | August 27, 2019 11:55 pm
  • As Discussed in Last Analysis  Now Bulls need to move above 28000 for a move towards 28225/28500. Bears will get active below 27790 for a move back to 27570/27300. 28225 done. 28 Aug is important time cycle date,Bulls need to move above 28150 for a move towards 28282/28400/28600. Bears will get active below 27950 for a move back to 27800/27650.

  • Bank Nifty Aug Future Open Interest Volume is at 13.4 lakh with liquidation of 0.89 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29286  closed below it.
  • 28500 CE is having highest OI @7.6 Lakh resistance at 28500  followed 29000. 27000-30000 CE added 12.9 Lakh in OI so bears added position in the zone of 28300-28500.
  • 27500 PE is having highest OI @8.1 Lakh, strong support at 27800 followed by 27500.27000-29000 PE added 12.6 Lakh OI so bulls making strong support in the range of 27800-28000.

Buy above 28150 Tgt 28280,28400and  28600  (Bank Nifty Spot Levels)

Sell below 27960 Tgt 27800,27666 and 27500 (Bank Nifty Spot Levels)

Follow on Twitter:

Follow on Facebook

Youtube Channel:

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.

2 thoughts on “Bank Nifty forms NR7 near gann date of 28 Aug

  1. Kishore

    Sir, Could you kindly explain NR7, a little more in detail ? whether bullish bearish or neutral ( indecisive) ?


Leave a Reply