Bank Nifty stuck in gann arc,EOD Analysis

gann arc support

  • Bank Nifty April Future Open Interest Volume is at 17  lakh with liquidation of 0.60 lakh, with decrease in Cost of Carry suggesting long positions were closed today.Rollover cost @16000, Bank nifty closed below it and rewarded by 300 points How To Identify Market Tops and Bottom
  • 16500 CE is having highest OI @6.6 Lakh resistance formation @16500. 15000-16900 CE added 2.2 lakh so bear making wall on resistance near 16000-16100 as Bank Nifty closed below the supply zone of 16000.
  • 15000 PE is having highest OI @5 Lakh, strong support at 15000 followed by 15500, Bulls covered  0.22 Lakh in OI in 15000-17000 PE as bank nifty closed below the demand zone of 15700 so bulls running for cover.

Buy above 15580 Tgt 15680,15750 and 15850 (Bank Nifty Spot Levels)

Sell below 15500 Tgt 15550,15480 and 15350 (Bank Nifty Spot Levels)

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  1. Bramesh said:

    Thanks it’s corrected

    April 8, 2016
  2. Bharani said:

    Sir, The BNF sell call

    sell below 15500 and target is 15550 – I think it has to be sell below 15550 tgt 15500

    April 8, 2016

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