Bank Nifty heading towards gann angle resistance,EOD Analysis

By | January 9, 2018
  • As Discussed in Last Analysis  High made was 25760 so bulls finally did the target of 25760. Bulls need to hold 25500 for the upmove to continue towards the new life high above 25871 where gann angle resistance lies and above it towards 25920. Bearish below 25500 for a move towards 25250/25000. Bank Nifty continued its uptrend making new high of 25803 and closing above 25700. We have another time cycle date on 11 Jan so we should get good move in bank nifty towards life high till we are holding 25600 levels.Bulls need to hold 25600 for the upmove to continue towards  25871 where gann angle resistance lies and above it towards 25920 vedic number and 26000 psychological resistance. Bearish below 25500 for a move towards 25250/25000.   Mastering Short-Term Trading

 

  • Bank Nifty Jan Future Open Interest Volume is at 20.2 lakh with addition of 0.78 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25671, and closed above it.
  • 26000 CE is having highest OI @15.6 Lakh resistance at 26000 followed 25800.24500-26500 CE added 0.60 lakh in OI so bears added position in 25800-26000.

 

  • 25000 PE is having highest OI @8.3 Lakh, strong support at 25200 followed by 25000.24500-26500 PE added 1.55 lakh in OI strong support at 25200-25000.

 

Buy above 25720 Tgt 25770,25830 and 25878 (Bank Nifty Spot Levels)

Sell below 25660 Tgt 25620,25550 and 25500 (Bank Nifty Spot Levels)

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