Bank Nifty breaks gann angle and in process does 25920,EOD Analysis

By | May 19, 2018
  • As Discussed in Last Analysis  Bulls need close above 26210 for a move towards 26352/26496/26640. Bearish below 26050 for a move back towards 25920/25776.  Low made today was 26012 so bears were unable to reach the target of 25920 and close above 26050 so we are in neutral zone and also took support gann angle. 18-19 May are another important astrological date, suggesting we can see good move either Friday or Monday.Bulls need close above 26110 for a move towards 26210/26352/26496/26640. Bearish below 26000 for a move back towards 25920/25776.  High made was 26032 so bulls were on back foot and as soon as 26000 broken bears did 1 target of 25920 and now waiting for target of 25776. Till we are below 25920 bears have upper hand and can push towards 25776/25632/25448. Bullish above 26000 for a move back to 26064/26200/26355. Again Time Analysis helped in capturing big move. Bank Important intraday time for reversal can be at 9:57/1:49. Trading Is Harder Than You Think: Complexity Of Trading

  • Bank Nifty May Future Open Interest Volume is at 29.3  lakh with liquidation of 1.75 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24969  closed above it and rallied 1000 points.
  • 26500 CE is having highest OI @10.7 Lakh resistance at 26500 followed 26800.25000-27000 CE liquidated 1.23 lakh in OI so bears added covered at higher level making resistance in range of 26500-26700.

 

  • 25500 PE is having highest OI @8 Lakh, strong support at 25500  followed by 25300.25000-27000 PE  added 0.53  lakh in OI so bulls having strong support in range of 25300-25500.

 

Buy above 25920 Tgt 25999,26064 and 26180 (Bank Nifty Spot Levels)

Sell below 25790 Tgt 25720,25610 and 25500 (Bank Nifty Spot Levels)

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One thought on “Bank Nifty breaks gann angle and in process does 25920,EOD Analysis

  1. SATHIYARAJ A

    Can you give me Canara bank & SBIN

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