Bank Nifty continue to rally above gann angle,EOD Analysis

By | November 20, 2018
  • Once Bank Nifty closed above the gann angle has been rallying on continues basis,Now Bulls need to protect 26100 for the rally to continue till 26352/26496/26640. Bearish below 26050 for a move back to 25920/25784. Important intraday time for reversal can be at  11:30/2:25.   Time Cycle Stock Scanner for 11-16 Nov

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 15.5  lakh with addition of 0.30 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @25131 rollover closed above it rallied 800 points .
  • 26000 CE is having highest OI @7.3 Lakh resistance at 26300  followed 26500.  24000-27000 CE liquidated 0.35 Lakh in OI so bears covered in range 26000-26500 CE.
  • 25500 PE is having highest OI @7.4 Lakh, strong support at 25800 followed by 25500.24000-26000 PE added 2  lakh OI so bulls continue to add in range of 25000-25300.

 

 

Buy above 26310 Tgt 26385,26455 and 26555 (Bank Nifty Spot Levels)

Sell below 26200 Tgt 26119,26000 and 25920 (Bank Nifty Spot Levels)

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