Bank Nifty rallies above 18700,EOD Analysis

By | August 15, 2016
  • As discussed in Last analysis  As seen in below chart we are again near a trend change as prices are near horizontal line, suggesting if 18443-18500 is held we can again see a move till 18900-19000 range.  Break of 18700 will signify we can see another move towards 19000 range. Bank Nifty made low of 18695 near our trigger of 18700 and zoomed to touch the high of 18695. So we held of to 18700 and made a dash towards 19000. Gann again helped in identifying the trend change near the vertical line. Now Bulls again need close above 19158 for move towards 19500 and bear will get active only on close below 18500, in between its just time correction.  WD Gann Trading Rules Part-II

bank nifty gunner

  • Bank Nifty Aug Future Open Interest Volume is at 18.2  lakh with addition of 1.1 lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty closed below Rollover cost  19030,made high at 19024.  Do you know your Risk of Ruin in trading ?
  • 19500 CE is having highest OI @5.1 Lakh resistance formation @19500. 18500-20500 CE saw 0.62 lakh liquidation in OI so bears liquidated heavily in 19000 CE.
  • 18500 PE is having highest OI @5.4 Lakh, strong support at 18500 followed by 18000, Bulls added 2.7 Lakh in OI in 17500-19500 PE  so bulls making support in zone of 18500-18600 zone.

Buy above 19000 Tgt 19070,19158 and 19250 (Bank Nifty Spot Levels)

Sell below 18850 Tgt 18777,18660 and 18590 (Bank Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates

Click Here to Join me on Twitter

2 thoughts on “Bank Nifty rallies above 18700,EOD Analysis

  1. BRIJMOHANLAL SHARMA

    NOW THE BULLS NEED TO CLOSE ABOVE 19158 TO RALLY UPTO 19500 AND NOT 18150.THE MISTAKE MAY BE CORRECTED PLEASE .

Leave a Reply