Bank Nifty again trading near gann support zone,EOD Analysis

By | November 25, 2016
  • As discussed in last analysis   Bank Nifty was unable to move above 18721 and bears unable to close below 18250,in between choppy move will continue, Close above 18721 can push bank nifty towards 18000/18300. Low made yesterday was 18216 but closed above 18250 again near the gann angle support zone as shown in below chart. Holding 18250 bank nifty can again bounce till 18500/18721 below 18200 fall towards 18000/17850.

bank-nifty-support

  • Bank Nifty Dec Future Open Interest Volume is at 20.8 lakh with addition of 11.3 lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty rollover @60.4 and Rollover cost @18580.

 

Buy above 18320 Tgt 18410,18500 and 18580 (Bank Nifty Spot Levels)

Sell below 18215 Tgt 18155,18050 and 17900 (Bank Nifty Spot Levels)

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