Bank Nifty hang around gann angle,EOD Analysis

By | August 19, 2017
  • As discussed in Last Analysis  So Bank Nifty played well in the range of 24120-24476 and also 17 Aug played well. Now till 24476 is not crossed bears will have upperhand. Fresh longs above 24476 for a move towards  24648/24800/24928. Bearish below 24100 for a move towards 23963/23755. Low made today was 23925 so bear did the first target of 23963 and also closed below 24100 so opening gates for 23755. Bullish above 24200 for a move towards 24450-25500.  Amazing Story of Lata Bhagwan Khare

 

 

  • Bank Nifty Aug Future Open Interest Volume is at 19.9 lakh with addition of 0.98 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @24665 closed below it.
  • 25000 CE is having highest OI @12.2 Lakh resistance at 24500 followed 25000. 24000-26000 CE liquidated 0.74 lakh so bears used the dip to cover position in 25000 CE.
  • 24000 PE is having highest OI @9.7 Lakh, strong support at 24000 followed by 23800, Bulls added 1.4 Lakh position in OI in range of 24000-26000 making strong base in range of 24000-23800.

Buy above 24100 Tgt 24160,24250 and 24360(Bank Nifty Spot Levels)

Sell below 24000 Tgt 23950,23840 and 23750 (Bank Nifty Spot Levels)

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One thought on “Bank Nifty hang around gann angle,EOD Analysis

  1. BRIJESH TRIVEDI

    Sir, in earlier analysis dated 15th, I was written that if banknifty stays above 23800 for 1 week then chances of rapid rise upto 25500-26000 possible as per harmonic analysis. Is it still possible? thank you sir

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