Bank Nifty bounced from Gann Arc, EOD Analysis

  • As discussed in last analysis Bank Nifty was unable to cross 16758 and made exact low of 16573 as we have discussed. Now break of 16573 can lead bank nifty back to 16286/15762 in coming week. Holding the same bounce to 16880/17031. Bank Nifty make low of 16580 near the green gann arc, and bounced back again and now again near the gann resistance of  16880 closing above it would lead to 17031, else again can go back to 16573.Why Retail Traders Lose Money in Stock Market

Daily Gunner

  • Bank Nifty December Future Open Interest Volume is at 20.8 lakh with liquidation of 1.2 Lakh with decrease in CoC suggesting long position closed today.Bank Nifty rollover cost coming @ 17158 closing below it fall continues .Can Traders make money in Stock market?
  • 18000 CE is having highest OI @5.6 Lakh strong resistance formation @18000. 17000 CE liquidated 0.31 lakh so bears liquidated their positions as bank nifty able to close above 16758.16500-17500 CE added 0.17 Lakh in OI.
  • 16000 PE is having highest OI @6.5 lakh, strong support at 16000 followed by 16500 PE .16000-17000 PE added 2.5 Lakh in OI  major addition by Bull reverse what happened on Friday.

Buy above 16850 Tgt 16920,17010 and 17150(Bank Nifty Spot Levels)

Sell below 16730 Tgt 16660,16580 and 16500(Bank Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates

Be First to Comment

Leave a Reply