Bank Nifty Continue to trade in gann arc,EOD Analysis

  • As discussing in past analysis  Till we are holding 18896 we can see move till 19103/19230, Bearish only close below 18700. Today Bank Nifty closed at 18968 so bulls held on to 18896 and gann lower arc suggesting they are still in play and expect big move in next 2 days, Holding the same target are 19103/19230, Bearish on on close below 18700 for move till 18546-18500  When not to Trade

bank nifty gann arc resista

  • Bank Nifty July Future Open Interest Volume is at 23.2 lakh with liquidation of 0.11 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 ?
  • 19000 CE is having highest OI @5 Lakh resistance formation @19000. 17000-19000 CE saw 0.47 lakh addition in OI so bears are adding aggressive position in 19000 CE. Bank Nifty is it sustained above19100 can see fast move till 19230-19300.
  • 18000 PE is having highest OI @4.8 Lakh, strong support at 18000 followed by 17500, Bulls added  1.27 Lakh in OI in 17000-19000 PE aggressive addition in 18500-18700 PE.

Buy above 19030 Tgt 19086,19150 and 19230 (Bank Nifty Spot Levels)

Sell below 18920 Tgt 18830,18750 and 18650 (Bank Nifty Spot Levels)

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