Bank Nifty bounces from Gann Arc,EOD Analysis

  •  As discussed in last analysis   We should big move tomorrow, Support below  15400 comes at 15237 and resistance at 15713. Bank Nifty opened with gap down near gann arc as shown below and as soon as moved above 15237 bulls took control and rallied bank nifty till 15550. Now for coming 2 days Bank Nifty Resistance at 15713 crossing the same can see fat move till 15882/16000.  Bearish only on break of 15400. Every Success Story Is Also A Story Of Great Failure

Daily Gunner

  • Bank Nifty February Future Open Interest Volume is at 21.2 lakh with addition of 0.18  Lakh with decrease in Cost of Carry suggesting short positions were added today .Bank Nifty rollover cost coming @ 15441  and Rollover % @71.3  How To Identify Market Tops and Bottom
  • 16000 CE is having highest OI @3.6 Lakh strong resistance formation @16000. 15500 CE saw 0.38 Lakh addition by bears so 15500 should be watched tomorrow, if we see covering we can see another big move in bank nifty .15000-16500 CE added 2.1 Lakh in OI. 14500-16500 looks the range for Feb series.
  • 15000 PE is having highest OI @3.4 lakh, strong support at 15000 and 14500 is next strong support looking at OI addition.14500-16500 PE saw 2.3 lakh addition so bulls added aggressively at start of series.

Buy above 15580 Tgt 15670,15720 and 15820 (Bank Nifty Spot Levels)

Sell below 15400 Tgt 15280,15150 and 15000 (Bank Nifty Spot Levels)

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One Comment

  1. Vj said:

    Guys, Any guess why the BANKNIFTY Spot is just 14 points to its FUTURES? Is it a trap or just genuine upswing?

    January 30, 2016

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