Bank Nifty Bulls again hold to gann angle,EOD Analysis

By | November 28, 2016
  • As discussed in last analysis Bulls need a close above 18721 for a move towards 19000/19300. Bears will get active only below 18200. Bank Nifty opened gap down made low of 18187 and quickly recovered and closed well above 18200. Bank Nifty again took support at the gann angles as shown in below chart, Gann angles has provided support 3 times in past few days, Bulls should push the prices above 18400 for a move towards 18669/18800 else the support will be broken . Positive Affirmations for Stock Trading

bank-nifty-support

  • Bank Nifty Dec Future Open Interest Volume is at 19.8 lakh with liquidation of 0.03 lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty rollover @60.4 and Rollover cost @18580.
  • 19000 CE is having highest OI @4 Lakh resistance at 19000. 18000-20000 CE saw addition of 2.4 lakh in OI so bears added aggressively in range of 19000/19500 CE.
  • 18000 PE is having highest OI @5.1 Lakh, strong support at 18000 followed by 17500, Bulls added 3.7 Lakh in OI in range of 17500-20000 PE

Buy above 18350 Tgt 18450,18600 and 18750 (Bank Nifty Spot Levels)

Sell below 18250 Tgt 18180,18100 and 18000 (Bank Nifty Spot Levels)

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3 thoughts on “Bank Nifty Bulls again hold to gann angle,EOD Analysis

  1. s.c.mittal

    iNITIAL FIGURES APPEAR TO HAVE BEEN REVERSED. 18350 IN PLACE OF 18400 VICE VERSA…

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