Bank Nifty ready for big move,EOD Analysis

By | July 7, 2016
  • As discussing in past analysis Bullish only on close above 18100 looking at current price action, Bearish below 17400 in between will be range bound move. Bank Nifty made high of 18146 but unable to close above 18100. We has 3 small days near gann horizontal line suggesting big move in round the corner. Also as per Supply demand analysis close below 17955 can see sharp decline towards 17800/17650.Bullish only on close above 18100 looking at current price action, Bearish below 17400 in between will be range bound move.  How Long Does It Take To Learn How To Trade?

bank nifty gann arc resistance

Support

  • Bank Nifty July Future Open Interest Volume is at 18.6 lakh with addition of 0.02  lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover is 75 % Rollover cost is coming at 17722  Do you know your Risk of Ruin in trading ?
  • 18500 CE is having highest OI @2.6 Lakh resistance formation @18500. 17000-19000 CE saw 0.62 lakh addition in OI so bears added aggressively at 18500 CE.
  • 17500 PE is having highest OI @3.8  Lakh, strong support at 17500 followed by 17000, Bulls added  1.22 Lakh in OI in 17000-19000 PE aggressive addition in 18000 PE. Expect big move in next 2 days.

Buy above 18160 Tgt 18220,18300 and 18400(Bank Nifty Spot Levels)

Sell below 17950 Tgt 17900,17820 and 17700(Bank Nifty Spot Levels)

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5 thoughts on “Bank Nifty ready for big move,EOD Analysis

  1. GOBARDHAN

    Sir
    The introduction of bank nifty weekly options has resulted in banknifty becoming less volatile.It is held in a tight range to get maximum benefit of option price decay.Due to this movement in nifty is also very less.
    Is my inference correct?

  2. Bramesh Post author

    Depends on your trading system. I follow 5 mins

  3. Havina shah

    Which time frame is the best while taking trades for intraday trades ….15mins or 5mins

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