Bank Nifty Ready for Big move,EOD Analysis

By | March 12, 2016
  • Bank Nifty made low of 15024 but again managed to close above 15136 just near the gann horizontal gann line, which had been proving resistance in past,closing above the same can see another move towards 15555 . 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. Inspirational Story for Traders

Stuck in Gann Arc

  • Bank Nifty March Future Open Interest Volume is at 18.5 lakh with liquidation of 0.37 lakh  with increase in Cost of Carry suggesting long 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 @6.1 Lakh resistance formation @15500. 13500-15500 CE saw 0.06 lakh liquidation as bears  booked some profit as bank nifty is closing below 15500 but above 15136.
  • 14500 PE is having highest OI @5.3 Lakh, strong support at 14500 followed by 14000, Bulls added again  in 14500/15000 PE.14000-16000 PE saw 0.78 lakh addition so bulls added aggressively on Friday suggesting big move round the corner . Range for March Series comes @ 13000-15500.

Buy above 15220 Tgt 15320,15450 and 15555 (Bank Nifty Spot Levels)

Sell below 15000 Tgt 14900,14820 and 14720 (Bank Nifty Spot Levels)

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9 thoughts on “Bank Nifty Ready for Big move,EOD Analysis

  1. Bramesh Post author

    As a trader our Jos is to trade what on screen not to predict or imagine where we can see bottom or top

  2. Bramesh Post author

    Dear Sir,

    If you are intraday trader please follow daily analysis.

    IF you are positional trader please follow Chopad levels/TC

  3. RAO

    Sir, you are giving buying above and selling below levels for nifty and bank nifty for the week and you are also giving chopad levels and resistance and support levels in another article, will u please write the difference and advise me how to follow these two levels for trading

  4. Niraj

    Sir I suggest if you sit tight along with trend that will give you good return rather then holding loss for prolong time, follow levels properly and keep holing position as per market trend.

  5. Ram Nene

    Well Said :
    “Speaking and giving advice is damm easy, but sitting tight in d market with position is most difficult ” .

    I was Short on Nifty in december , It gave rally for 3 weeks.
    I was Long on Nifty in January , It fell down along with china from 1st Jan itself.

    Currently holding 7400 nifty puts : Not ready to come down , eroding put premium.

    Total Whipsaw . Last three months every month loss.

  6. nifty2015

    I agree with you as base formation has to take place, market did not find bottom yet. Much more downside yet to go.

  7. Gaurav

    very nicely said Saurabh …. Rather than getting confused one should stick with the trade executed … with confidence

  8. saurabh78

    Go with the flow. When a multi day rally ensuing, keep positional, till the rally say i am done, Keep only one entry and no re-entry.

    Re-entries are costly , unless you excel in d analysis part. If you are following a indicator, then make exit only when exhaustion of rally visible.

    Speaking and giving advice is damm easy, but sitting tight in d market with position is most difficult, here Bramesh will definately guide you , how to take positional trade and how to do money management.

  9. Achu Mon

    BankNifty – compression zone. Wave structures (lower panel) suggests that high’s may not sustain .Not my word from a tweet .

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