Bank Nifty facing resistance at gann angle,EOD Analysis

By | July 12, 2018
  • As Discussed in Last Analysis Now till we are holding 26920 we can rally towards the target of 27064/27216. Bearish below 26700 for a move back  to 26610/26500. We were able to capture the move from 26600-26900 as of now as per gann price time analysis. Bank Nifty bulls failed to hold 26920 but also protected 26700, so we are in neutral zone. Fresh Longs should be taken above 26920 for a move towards 27064/27216. Bearish below 26750 for a move back to 26640/26500.  Bank Important intraday time for reversal can be at 10:14/2:29.Trading Quotes Every Trader should read

  • Bank Nifty July Future Open Interest Volume is at 23.8 lakh with liquidation of 1.7 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26490 closed below it.
  • 27000 CE is having highest OI @5.9 Lakh resistance at 27000 followed 27300.26000-28000 CE liquidated 0.07 Lakh in OI so bears covered  position at higher level  still resistance in range of 27000-27300

 

  • 26000 PE is having highest OI @9 Lakh, strong support at 26300  followed by 26000.26000-28000 PE added 4.4 OI so bulls having strong support in range of 26200-26300.

 

Buy above 26850 Tgt 26920,27000 and 27070 (Bank Nifty Spot Levels)

Sell below 26750 Tgt 26700,26640 and 26555 (Bank Nifty Spot Levels)

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