Bank Nifty near crucial junction, ready for Big move

  • No Change in Bank Nifty analysis as we have been discussing in past few session Bank Nifty tried to move on the demand zone @17368 but for 5 day in row continued to close below it,  Bulls needs to close above 17368 for a move till 17600. Gunner still suggests bears are in control till we do not close above the gann trendline. If not bank nifty will move towards 17000 odd levels. Gann Time Analysis suggests we can see big move tomorrow.We have discussed various scenarios which we can see after Bihar Election results are declared Bihar Election Result impact on Stock Market

Daily Gunner



  • Bank Nifty November Future Open Interest Volume is at 22.2  lakh with addition of 0.79 Lakh with increase in CoC suggesting long position were entered today. Rollover cost  of Bank nifty is @ 17782
  • 18000 CE is having highest OI @5.3 Lakh strong resistance formation @18000. 17500 CE added 0.63 lakh so bears forming wall @ 17500 as nifty was unable to close above 17368 demand zone. 17500-18500 CE added 1.6 Lakh in OI.
  • 17000 PE is having highest OI @3.3 lakh strong base @17000 followed by 16500. 16500/17500 PE added 0.70 lakh not strong addition seen by bulls as compared to bears. Range of Bank Nifty at start of series is coming between 16500-17500.

Buy above 17300 Tgt 17380,17450 and 17550 (Bank Nifty Spot Levels)

Sell below 17100 Tgt 17010,16900 and 16750(Bank Nifty Spot Levels)

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