- As discussed in Last analysis Close above 19700 on Weekly basis can see bank nifty moving towards all time high. Now Bulls need to hold 19700 on Weekly basis as seen in below chart of gann angles, we have closed above the important gann line, Now holding the range of 19700-19550 bank nifty can move towards 20500/21000. Bears will get active below 19508 Not able to pull the trigger in Trading
- Bank Nifty Sep Future Open Interest Volume is at 29 lakh with addition of 0.79 lakh, with rise in Cost of Carry suggesting long positions were entered today. Bank nifty closed below Rollover cost 19450 closed above it,rallied 500 points. Do you know your Risk of Ruin in trading ?
- 20000 CE is having highest OI @9.3 Lakh resistance formation @20000. 18500-20500 CE saw .4 lakh addition in OI so bears added heavily in 20000-21000 CE.
- 19000 PE is having highest OI @8.1 Lakh, strong support at 19000 followed by 19500, Bulls added 2.2 Lakh in OI in 18500-20500 PE so bulls making support in zone of 19000-19200 zone.
Buy above 19820 Tgt 19870,19920 and 20000 (Bank Nifty Spot Levels)
Sell below 19700 Tgt 19650,19550 and 19450 (Bank Nifty Spot Levels)
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