Bank Nifty forms Inside Bar

By | September 16, 2019 10:07 pm
    • As Discussed in Last Analysis  We saw the effect of astro date and now we need to move above 28100 for a move back to 28225/28561/28900. Bears have the chance only below 27889 for a move back to 27556/26225. High made was 28066 so bulls unable to break 28100 and bears got whipsawed below 27889. Bank Nifty has formed an Inside day candel , Bank Nifty Bull need to move above 27940 for a move back to 28100/28189/28273. Bears will get active below 27790 for a move back to 27630/27465.

  • Bank Nifty Sep Future Open Interest Volume is at 15.1 lakh with liquidation of 0.78 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27807 closed above it.
  • 29000 CE is having highest OI @3.7 Lakh resistance at 28500  followed 29000. 27000-30000 CE added 2.52 Lakh in OI so bears added position in the zone of 28000-28300.
  • 28000 PE is having highest OI @3.2 Lakh, strong support at 27800 followed by 27500.27000-30000 PE added 0.96 Lakh OI so bulls making support in the range of 27500-27800.

Buy above 27910  Tgt 28000,28150 and  28280 (Bank Nifty Spot Levels)

Sell below 27790 Tgt 27700,26610 and 26500 (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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