Bank Nifty rallies above gann angle,EOD Analysis

By | July 13, 2018
  • As Discussed in Last 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 Nifty opened above 26920 low made was 26936 and rallied to do our 1 target of 27064 and now waiting for next target of 27216. Range of 27216-27225 is crucial resistance zone,bulls need a close above it for the next rally towards 27360/27500. Bearish below 26920 for a move back to 26784/26640. Bank Important intraday time for reversal can be at 12:44/3:02.  How to become Millionaire with Consistent Success in Trading

  • Bank Nifty July Future Open Interest Volume is at 23.7 lakh with liquidation of 0.02 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26490 closed below it.
  • 27500 CE is having highest OI @7.3 Lakh resistance at 27300 followed 27500.26000-28000 CE liquidated 0.34 Lakh in OI so bears added position at higher level  still resistance in range of 27200-27300

 

  • 26000 PE is having highest OI @9.3 Lakh, strong support at 26300  followed by 26000.26000-28000 PE added 3.7 OI so bulls having strong support in range of 26200-26300.

 

Buy above 27064 Tgt 27150,27230 and 27310 (Bank Nifty Spot Levels)

Sell below 27000 Tgt 26920,26830 and 26700 (Bank Nifty Spot Levels)

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