Bank Nifty corrects 849 points as per Gann Price Time

By | March 26, 2019
  • As Discussed in Last Analysis High made was 30008 exactly at gann angle resistance and on Astro date where mercury was in conjunction with Neptune suggesting we have done price time squaring and till we are below 29791 bears will have upper hand, as we have closed below 29600 now waiting for target of  29376/29240/29088. We saw effect of price time squaring with bank nifty opening with gap down and in process did our 2 target on downside, Bears will have upperhand till we are below 29330 for a move towards 29088/28944/28800. Bulls will get active above 29376 for a move towards 29520/29664. 26 March is also important time cycle.

 

  • Bank Nifty March Future Open Interest Volume is at 19.6 lakh with liquidation of 2.1 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @27064  closed above it,Low made Friday was 27051 and rallies 2500  points

 

  • 30000 CE is having highest OI @9.9 Lakh resistance at 30000 followed 30200.  29000-30000 CE added 16.8 Lakh in OI so bears  added  position  in the zone of 30000-30200

 

  • 29000 PE is having highest OI @5.9 Lakh, strong support at 29000 followed by 28800.26000-28000 PE added 3.3 Lakh OI so bulls making strong support in the range of 29000-29200.

 

Buy above 29333 Tgt 29415 ,29501 and  29587 (Bank Nifty Spot Levels)

Sell below 29150 Tgt 29072,28987 and 28902(Bank Nifty Spot Levels)

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