Bank Nifty Holds Gann Angle of Trend Change Date,EOD Analysis

By | November 22, 2017
  • As discussed in Last Analysis  Low made was 25726 and high made was 25871 so bulls continue to move higher as tommrow is trend change date so bulls need a close above 25776 for a move towards 25920/26064. Bearish only below 25612 for a move towards 25488/25350. Bank nifty closed at 25767 just below our trigger part of 25776 ,low made was 25665 so bank nifty bulls protected 25612 on the trend change day, 4 days of consolidation after 800 points rally. Bullish above 25832 for a move towards 26064/26300. Bearish below 25612 for a move towards 25488/25350.   Are you Victim of Sleep Disorder?

  • Bank Nifty Nov Future Open Interest Volume is at 23.3 lakh with liquidation of 0.56 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24786,closed above it.
  • 26000 CE is having highest OI @15.4 Lakh resistance at 26000 followed 26500.24500-26500 CE added 6.5 lakh in OI so bears added major position at higher level.

 

  • 25000 PE is having highest OI @13.2 Lakh, strong support at 25500 followed by 25000.25000-26500 PE liquidated 0.30 lakh in OI so bulls covered position at lower level making base in range of 25500-25550

 

Buy above 25790 Tgt 25830,25880 and 25940 (Bank Nifty Spot Levels)

Sell below 25740 Tgt 25670,25590 and 25500 (Bank Nifty Spot Levels)

Leave a Reply