Bank Nifty react for gann swing points,EOD Analysis

  • As discussed in last analysis   As Bank nifty is closing above gann line of resistance so it heading to gann swing point at 18044 and above that 18144, Support at 17850 below that  can move to 17652. Bank Nifty opened up at 18030 near gann swing levels unable to sustain over it  and corrected towards the rising trendline as shown in below chart,Support comes @17732 and 17650. Resistance at 17950/18044. How to develop yourself as Profitable trader


Weekly Gunner


  • Bank Nifty October Future Open Interest Volume is at 19.2  lakh with liquidation of 1.5 Lakh with decrease in CoC suggesting short  position were closed today. Rollover of Bank nifty is @ 17980.
  • 18500  CE  OI at 7.9  lakh with addition of 0.20  lakh suggesting , wall of resistance @ 18500 .17500 CE added 0.05 lakh and 18000 CE added 0.99  lakh so bears again building position on 18000 CE as Bank Nifty close below 17850. 17000-18000 CE added 1.76 Lakh, so Bears added aggressively today.
  • 17000 PE OI@ 5.77  lakhs  strong base @ 17000.  17500 PE  added 0.43  lakh so bulls has started adding their position and no liquidation seen even bank nifty closed in red. 16500/17500 PE added 0.29  lakh so bulls need further confirmation with close above 17950 to add aggressively.


Buy above 17900 Tgt 17960,18040 and 18111 (Bank Nifty Spot Levels)

Sell below 17800 Tgt 17740,17650 and 17500 (Bank Nifty Spot Levels)

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