Bank Nifty reacts from gann angle,EOD Analysis

By | February 14, 2018
  • As Discussed in Last Analysis Bank Nifty did the first target of 25700 and now waiting for the next target of 25900/26150. Big breakout will be see above 26150 for a fast move towards 26500. We got 150 points move from time cycle high as discussed. Bearish below 25600 for a move towards 25510/25270/25250. Bank Nifty opened with a gap and as soon as 25600 was broken corrected all the way towards 25250 so good move captured.  Bearish below 25250 for a move towards 24996/24750. Bullish above 25510 for a move towards 25700/25800.  Important intraday time for reversal can be at 1:22  Trader needs to be Adaptive

 

 

 

  • Bank Nifty Feb Future Open Interest Volume is at 22.5 lakh with addition of 2.6 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @27248, closed below it and corrected 2248 points.
  • 26000 CE is having highest OI @5.2 Lakh resistance at 26000 followed 26500.25000-27000 CE added 6.3 lakh in OI so bears added position at higher levels.
  • 25000 PE is having highest OI @5.5 Lakh, strong support at 25000 followed by 25300.25000-27000 PE  added 0.94 lakh in OI still strong support at 25000-25100 .

 

Buy above 25350 Tgt 25450,25555 and 25696 (Bank Nifty Spot Levels)

Sell below 25250 Tgt 25100,24996 and 24900 (Bank Nifty Spot Levels)

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