Bank Nifty held on to gann angle,EOD Analysis

By | June 14, 2018
  • As Discussed in Last Analysis  15 June is another important time cycle date so brace yourself for trending move. Bullish above 26656 we can easily see move towards 26773/26920/27143. Break of 26450 can see fast down move towards 26300/26210.  Bank Nifty continue to trade the range of 26656 and 26450 breaking none of them today. No change in plan Bullish above 26656 we can easily see move towards 26773/26920/27143. 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.Bank Important intraday time for reversal can be at 2:19. The Professional vs. Amateur’s Reaction to a Losing Trade

  • Bank Nifty June Future Open Interest Volume is at 27.5  lakh with liquidation of 0.29 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26408 closed above it
  • 27000 CE is having highest OI @11.8 Lakh resistance at 27000 followed 27500.26000-28000 CE added 3  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 @8.3 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 0.55  lakh in OI so bulls having strong support in range of 26100-26200.

 

Buy above 26570 Tgt 26640,26720 and 26810 (Bank Nifty Spot Levels)

Sell below 26500 Tgt 26450,26340 and 26230 (Bank Nifty Spot Levels)

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