Bank Nifty Bears break gann angle,EOD Analysis

By | September 20, 2018
  • As Discussed in Last Analysis  High made today was 26898 so bulls made a failed attempt to close above 26898 and once 26740 broken bulls did the target all the way till 26496. Bears need to break 26420 for a move towards 26280-26072-25997,Range of 25997-26010 is important support zone, Bullish above 26580 for a move back to 276784/27070. Bank Nifty bears were again at front foot and did 26280 and waiting for target  of 26072-25997,Range of 25997-26010 is important support zone. Bulls need to close above 26496 for up move towards 26611/26784. We have important time cycle date today,effect will be seen tomorrow. Important intraday time for reversal can be at 11:17/2:17. Mental Toughness Required by Traders

 

  • Bank Nifty Sep Future Open Interest Volume is at 20 lakh with addition of 0.84 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @28307 closed below it and corrected 1800 points.
  • 27000 CE is having highest OI @11 Lakh resistance at 26800  followed 27000.  26000-28000 CE added 20 Lakh in OI so bears continue to  add at 26800-27000 CE.

 

  • 26000 PE is having highest OI @5.1 Lakh, strong support at 26000 followed by 25800.26000-28000 PE added 5.8  lakh OI so bulls having strong support in range of 26000-26200.

 

 

Buy above 26380 Tgt 26444,26525 and 26632 (Bank Nifty Spot Levels)

Sell below 26250 Tgt 26137,26000 and 25930 (Bank Nifty Spot Levels)

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