- As discussed in last analysis 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. Low made was 18266 near our gann support zone of 18250 as seen in below chart and High made was 18546 near our initial target of 18500 and closed above 18500 suggesting 18721 is the next target. Thats the Beauty of gann analysis it keeps you ahead of the curve and give that extra edge. Bulls need a close above 18721 for a move towards 19000/19300. Bears will get active only below 18200. The Last Ride
- Bank Nifty Dec Future Open Interest Volume is at 19.9 lakh with liquidation of 0.95 lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty rollover @60.4 and Rollover cost @18580.
- 19000 CE is having highest OI @4.3 Lakh resistance at 19000. 18000-20000 CE saw addition of 2.9 lakh in OI so bears added aggressively in range of 19000/19500 CE.
- 18000 PE is having highest OI @3.6 Lakh, strong support at 18000 followed by 17500, Bulls added 1.7 Lakh in OI in 18000-18500 PE addition by bears in range of 18400/18500.
Buy above 18550 Tgt 18620,18720 and 18870 (Bank Nifty Spot Levels)
Sell below 18400 Tgt 18340,18270 and 18160 (Bank Nifty Spot Levels)
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