- As discussed in Last Analysis Bank Nifty has been closing above 15136 from past 6 days, 7 is a gann number so expect trending move in next 2 trading days. Support has increased in range of 14900-15000. Resistance in range of 15400-15440. Bank Nifty made High of 15386 and low of 15268, so again close above 15136 but unable to cross resistance zone of 15440 and formed an INSIDE DAY Candel. Bulls should closely watch 15452, Hourly close above it can see Bank Nifty breaking out of this range of 15000-15451 where its stuck in gann arc, for a 400-500 point move, Support is now at 15100-15136.How Long Does it Take to Consistent Income from Trading?
- Bank Nifty March Future Open Interest Volume is at 18.2 lakh with liquidation of 0.51 lakh with increase in Cost of Carry suggesting short positions were closed today. Bank Nifty able to close above Rollover price @14115 and gave 1300 Points. How To Identify Market Tops and Bottom
- 15500 CE is having highest OI @6 Lakh resistance formation @15500. 13500-15500 CE saw 0.05 lakh liquidation as bears booked some profit as bank nifty is closing below 15500 but above 15136.
- 14500 PE is having highest OI @6.3 Lakh, strong support at 14500 followed by 14000, Bulls added again in 14500/15000 PE.14000-16000 PE saw 1.6 lakh addition so bulls added aggressively today also follow up of Friday/MOnday addition . Range for March Series comes @ 13000-15500.
Buy above 15320 Tgt 15390,15450 and 15555 (Bank Nifty Spot Levels)
Sell below 15250 Tgt 15200,15140 and 15000 (Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates