Bank Nifty Bulls continue to hold Gann Angle,EOD Analysis

By | April 19, 2018
  • As Discussed in Last Analysis Tomorrow is important time cycle date. Bullish above 25200 for a move back towards 25333/25411. Bearish below 25050 for a move back towards 24970/24890.  Bank Nifty made high of 25207 at opening and low of 25050 so traded in our range on time cycle date and preparing ground for a 200-300 pointer trade when the high of TC date is broken or low is broken. Long above 25210 for a move towards 25333/25444/25555. Bearish below 25050 for a move back towards 24970/24890. Bank Important intraday time for reversal can be at 12:06/ 1:55 .  Trading Resolution for Financial Year 2018-19

  • Bank Nifty April Future Open Interest Volume is at 18.2 lakh with addition of 0.01 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24358  closed above it and rallied 1000 points.
  • 25500 CE is having highest OI @4.2 Lakh resistance at 25500 followed 25700.24000-26000 CE added 9.9 lakh in OI so bears added  position at higher level.

 

  • 24500 PE is having highest OI @9.8 Lakh, strong support at 25000 followed by 24800.24000-26000 PE  added 13  lakh in OI so bulls made strong support in range of 24800-25000.

 

Buy above 25150 Tgt 25210,25333 and 25444 (Bank Nifty Spot Levels)

Sell below 25050 Tgt 24970,25850 and 25630 (Bank Nifty Spot Levels)

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