Bank Nifty ready for big move, September month overview

  • As discussed in Last Analysis  Bank Nifty opened with gap up above 24200 triggering sl for traders who went short and made high of 24388 still unable to break high of time cycle date of 24422, Bears will again get active below 24200 for a move towards 23963/23830. Bullish above 24510 only.  Low made today was 24207 and high made was 24354 so bulls and bears both trading in small range, September series will start with time cycle date on 01 Sep, so big move should be seen in next 2 trading sessions. Bears will again get active below 24200 for a move towards 23963/23830. Bullish above 24510 for a move towards 23750/25000. Overcoming Emotions As A Day Trader

 

 

  • Bank Nifty Sep Future Open Interest Volume is at 16.3 lakh with addition of 5.3 Lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover cost @24345 closed above it and rollover @66%

 

Buy above 24380 Tgt 24440,24510 and 24620(Bank Nifty Spot Levels)

Sell below 24270 Tgt 24220,24150 and 24000 (Bank Nifty Spot Levels)

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1 thought on “Bank Nifty ready for big move, September month overview”

  1. Sir can you suggest any other method compatible with Gann. How does Fibonacci fits with this to understand resistance/support.

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