Bank Nifty ready for Big move

By | September 5, 2019 8:11 pm
  • As Discussed in Last Analysis Bulls now need to close 27300 for a move back to 27570/27840. Bears will get active below 27000 for a move back to 26866/26703/26621. Tomorrow is important time cycle date. High made was 27243 so bulls unable to break 27300 and once below 27000  did 26866, As per Astro time cycle we should see big move in bank nifty in next 2 trading session.Bulls now need to close 27000 for a move back to 27170/27300/27570. Bears will get active below 26900 for a move back to 26703/26621/26500.

  • Bank Nifty Sep Future Open Interest Volume is at 16.5 lakh with addition of 0.98 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27807 closed below it.
  • 28000 CE is having highest OI @4 Lakh resistance at 27500  followed 28000. 27000-30000 CE added 1.2 Lakh in OI so bears added position in the zone of 27000-27500.
  • 26500 PE is having highest OI @3 Lakh, strong support at 26800 followed by 26500.26000-29000 PE added 0.56 Lakh OI so bulls making support in the range of 26500-26800.

Buy above 27000 Tgt 27170,27278 and  27421 (Bank Nifty Spot Levels)

Sell below 26920 Tgt 26815,26700 and 26670 (Bank Nifty Spot Levels)

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