Bank Nifty Will it close above gann arc,EOD Analysis

Daily Gunner

  • Bank Nifty February Future Open Interest Volume is at 21.1 lakh with liquidation of 1.2 with increase in Cost of Carry suggesting short positions were closed today .Bank Nifty  again gave 1500 points move below rollover cost @ 15441. How To Identify Market Tops and Bottom
  • 15000 CE is having highest OI @9  Lakh strong resistance formation @15000. 14500 CE saw almost no addition as bulls were  able to close Bank Nifty  above 14251 .14000-15000 CE liquidated 0.43  Lakh.
  • 14000 PE is having highest OI @5.1 Lakh, strong support at 14000, Bears added aggressively in 14400 PE.13500-14500 PE saw 0.6  lakh addition as Bank nifty closed above 14251

Buy above 14470 Tgt 14536,14601 and 14700 (Bank Nifty Spot Levels)

Sell below 14400 Tgt 14320,14250 and 14171 (Bank Nifty Spot Levels)

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