Bank Nifty hangs around gann angle,EOD Analysis

By | September 2, 2017 9:45 am
  • As discussed in Last Analysis   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 24750/25000. High made was 24494 so still bulls are not able to close above 24480 our vedic number which gave very good trades in last month and also 24510, Time cycle will start showing effect once we move above 24510 which is gann angle resistance as seen in below chart for a quick move towards 24750/25000. Bearish below 24200 for a move towards 23963/23830.  Trickle or a raging river, money is a lot like water

  • Bank Nifty Sep Future Open Interest Volume is at 18.6 lakh with addition of 2.3 Lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover cost @24345 closed above it.

 

  • 25000 CE is having highest OI @6.8 Lakh resistance at 24500 followed 25000. 24000-26000 CE added 7.4 lakh so bears position  in 24500/25000 CE.

 

  • 24000 PE is having highest OI @6.3 Lakh, strong support at 24000 followed by 23800, Bulls added  huge 11.3 Lakh position in OI in range of 24000-26000.

 

Buy above 24510 Tgt 24590,24680 and 24820(Bank Nifty Spot Levels)

Sell below 24400 Tgt 24340,24240 and 24120 (Bank Nifty Spot Levels)

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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