Price Time Squaring Effect:Bank Nifty Rallies 758 points in 2 Days,EOD Analysis

By | November 18, 2017
  • As discussed in Last Analysis  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.  Bank Nifty did 2 target of 25700/25850. Now till bank nifty is holding 25770 we can head towards 26020/26280. Bearish below 25500 for a move towards 25300/25150.  The tiger’s whisker

  • Bank Nifty Nov Future Open Interest Volume is at 23.7 lakh with addition of 1.3 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @24786,closed above it.
  • 26000 CE is having highest OI @7.2 Lakh resistance at 26000 followed 26500.24500-26500 CE liquidated 0.32 lakh in OI so bears ran for cover as bank nifty opened with huge gap.

 

  • 25000 PE is having highest OI @14.8 Lakh, strong support at 25500 followed by 25000.24500-26500 PE liquidated  3.4 lakh in OI so bulls used the rally to book profit.

 

Buy above 25780 Tgt 25870,25930 and 26001 (Bank Nifty Spot Levels)

Sell below 25700 Tgt 25630,25540 and 25400 (Bank Nifty Spot Levels)

2 thoughts on “Price Time Squaring Effect:Bank Nifty Rallies 758 points in 2 Days,EOD Analysis

Leave a Reply