Bank Nifty rallies above Gann Angle,EOD Analysis

By | November 16, 2018
  • As Discussed in Last Analysis Now Bulls need a close above 25945 for rally to continue towards 26050/26200/26344. Bearish below 25800 for a move back to 25666/ 25525/25400. Bears got whipsawed below 25800 but losses were reserved as we moved above 25945 did our target of 26200 and now heading towards 26344/26496/26640. Bearish below 26000 for a move back to 25920/25800. Bank Nifty made bottom on 13 Nov as per our time cycle, Now next important date is 18 Nov so effect will be seen on Monday. Important intraday time for reversal can be at 10:42/12:45/2:48. Blog Updates have not been regular from past few days as i am on vacation,Blog will be updated from Regular Time from 21 Nov before that updates will not be that regular, I will try my best to Update before market hours.  Time Cycle Stock Scanner for 11-16 Nov

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 15.6  lakh with addition of 1.55 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 26200 Tgt 26310,26420 and 26530 (Bank Nifty Spot Levels)

Sell below 26000 Tgt 25920,25800 and 25720 (Bank Nifty Spot Levels)

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