Bank Nifty give big move as Price and Time Meets

By | November 16, 2017
  • As discussed in Last Analysis Bearish below 25150 for a for a move towards 25000/24800. also we have time cycle turn date tommrow so we can see high intensity move in bank nifty in next 2 days. Low made was 25166 and High made was 25318 so bank nifty remained in neutral zone in our range, Also Nifty saw the big move but bank nifty failed to give big move but lets hope we can see tommrow. Plan remains the same  Bullish above 25350 for a move towards 25500/25700. Bearish below 25150 for a for a move towards 25000/24800. Low made yesterday was 25166 as bank nifty protected 25150 and today as soon as 25350 was taken out bulls did 25496 almost hitting our target of 25500. Till 25350 is held bulls can continue up move towards 25700/25850/26000. Bearish below 25300 for a move towards 25150/25000. This is how price (25150) and Time (15 Nov) helped in capturing a big move, Thats the beauty of Gann Analysis. Who are you Trader and Gambler ?

  • Bank Nifty Nov Future Open Interest Volume is at 22.3 lakh with liquidation of 0.49 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24786,closed above it.
  • 26000 CE is having highest OI @8.4 Lakh resistance at 25500 followed 26000.24500-26500 CE added 0.53 lakh in OI so bears added position at higher side.

 

  • 25000 PE is having highest OI @17.1 Lakh, strong support at 25000 followed by 24800.24500-26500 PE added 0.43 lakh in OI so bulls continue to add as bank nifty moved above 25250.

 

Buy above 25450Tgt 25530,25610 and 25750 (Bank Nifty Spot Levels)

Sell below 25400 Tgt 25320,25250 and 25150 (Bank Nifty Spot Levels)

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