Bank Nifty close above gann angle,EOD Analysis

By | April 12, 2018
  • As Discussed in Last Analysis   Low made today was 24950 so bearish trade got activated but missed our target. Also close is at gann angle at 25100, So bulls will get active above 25100 for a move towards 25250/25488/25632. Bearish below 25050 for a move back to 24912/24768. High made today was 25244 so bulls almost did the target of 25250, Now break of 25250 can see fast rally towards 25488/25632 where major resistance lies. Bearish below 24970 for a move towards 24800. Break of todays high and low of anniversary date can easily 250-300 points  Important intraday time for reversal can be at 12:32/2:31.  Trading Resolution for Financial Year 2018-19

  • Bank Nifty April Future Open Interest Volume is at 18.3 lakh with addition of 0.83 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24358  closed above it.
  • 25000 CE is having highest OI @4.5 Lakh resistance at 25000 followed 25200.24000-26000 CE added 0.26 lakh in OI so bears added  position at higher level.

 

  • 24500 PE is having highest OI @7 Lakh, strong support at 24800 followed by 24600.24000-26000 PE  added 1.41 lakh in OI so bulls made strong support in range of 24600-24800.

 

Buy above 25250 Tgt 25320,25410 and 25555 (Bank Nifty Spot Levels)

Sell below 25130 Tgt 25050,24970 and 24890 (Bank Nifty Spot Levels)

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