- 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
- 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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