Bank Nifty stuck in gann arc,EOD Analysis

  •  As discussed in last analysis  Now support is again in range of 15500-15381 and resistance above 15830. Low made today was 15580 and High 15774, so trading in the range.  The range is important as its falling in gann 1 arc and near gann trendline as shown in below chart, so break of 15500 or 15800 will give another 250-300 point move.    Traders Success Model

Bank Nifty gunner resistance

  • Bank Nifty March Future Open Interest Volume is at 15.4 lakh with liquidation of 4.7 lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank Nifty able to close above  Rollover price @14115 and gave 1800 Points. How To Identify Market Tops and Bottom
  • 16000 CE is having highest OI @9.8 Lakh resistance formation @16000. 15000-16000 CE liquidated 0.21 lakh as bears are making wall of resistance at 15800.Maximum addition was seen @15800, so break and close of 15800 will first indication of bank nifty going bullish tomorrow.
  • 15500 PE is having highest OI @5.6 Lakh, strong support at 15500 followed by 15000, Bulls again added in 15500/16000 PE as OI increased by 2.4 Lakh so bulls finally held on to 15500.

Buy above 15680 Tgt 15766,15850 and 15960 (Bank Nifty Spot Levels)

Sell below 15550 Tgt 15450,15310 and 15200(Bank Nifty Spot Levels)

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  1. Vikee said:

    Will bank nifty come down or go up?

    March 30, 2016
  2. Eklavya said:

    Does motivewave supports gann ??

    March 30, 2016
  3. Bramesh said:

    I always follow harmonic with gann..

    March 30, 2016
  4. eklavya said:

    sir bank nifty harmonic pattern says that it should come to 15198… (i use motivewave)…what is ur opinion sir ?? And what percentage of success does harmonic pattern have plz tell sir as i am in learning phase. thanks

    March 29, 2016

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