- As discussed in last analysis Now we have Gann support in range of 13600-13500 range where we can see some bounce back. Bank Nifty made low of 13519 near 13500, We have 3 months of Selling in Bank Nifty it has happened 5 times in past as shown in below monthly chart. Every time Bank Nifty has bounced back, so we can expect green march if History has to repeat itself. Why Trading journal is important for Successful trading
- Bank Nifty March Future Open Interest Volume is at 23.4 lakh with addition of 5.1 lakh with increase in Cost of Carry suggesting long positions were added today. Rollover stand at 67.7 % and Rollover price @14115. How To Identify Market Tops and Bottom
- 14500 CE is having highest OI @3.2 Lakh strong resistance formation @14500. 13500-15500 CE saw 4.3 lakh addition as bank nifty closed below 14000 .
- 13000 PE is having highest OI @2.2 Lakh, strong support at 13000, Bears added aggressively in 13000/13500 PE.13000-15500 PE saw 2.6 lakh addition. Range for March Series comes @ 13000-15500.
Buy above 13650 Tgt 13760,13840 and 13960 (Bank Nifty Spot Levels)
Sell below 13500 Tgt 13435,13320 and 13251 (Bank Nifty Spot Levels)
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