Bank Nifty break gann angle on downside,EOD Analysis

By | June 16, 2018
  • As Discussed in Last Analysis  Break of 26450 can see fast down move towards 26300/26210. 15 June is tommrow so effect should be seen either tommrow or Monday provided we break the bullish and bearish level as mentioned, as today again we took support near gann angle as shown below. Nifty bears were able to break 26450 and made low of 26344 unable to do our target of 26300 but closed below 26450 suggesting we can move down and do our target of 26300/26210/26100. Bullish above 26500 for a move back to 26640/26773. Bank Important intraday time for reversal can be at 12:18/2:41. The Professional vs. Amateur’s Reaction to a Losing Trade

  • Bank Nifty June Future Open Interest Volume is at 26.7  lakh with liquidation of 0.82 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26408 closed above it
  • 27000 CE is having highest OI @13.9  Lakh resistance at 27000 followed 27500.26000-28000 CE added 4.3 Lakh in OI so bears added  position at higher level  still resistance in range of 26700-26900, High made today was 26765.

 

  • 26000 PE is having highest OI @8.8 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 0.01  lakh in OI so bulls having strong support in range of 26100-26200.

 

Buy above 26450 Tgt 26555,26666 and 26777 (Bank Nifty Spot Levels)

Sell below 26380 Tgt 26320,26210 and 26150 (Bank Nifty Spot Levels)

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