Bank Nifty rallies 700 point as per Gann Time Cycle

By | March 12, 2019
  • As Discussed in Last Analysis We have Important Astro date on 08 Mar and 09 Mar is Gann 10 Year Cycle so expect good move in next 2 trading sessions. Now Bulls need close above 28000 for the next move towards 28100/28225/28370. Bears will get active below 27830 for a move towards 27720/27648. 28370 done today and we have seen effect of  W D Gann time cycle we have rallied almost 700 points in 2 trading sessions, Now Bulls need to move above 28500-28556 which is a major resistance zone for a move back to 28656/28900. Bears will get active below 28350 for a move back to 28224/28080.

  • Bank Nifty March Future Open Interest Volume is at 24.5 lakh with addition of 3.8 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27064  closed above it,Low made Friday was 27051 and rallies 1500 points
  • 28500 CE is having highest OI @2.3 Lakh resistance at 28500  followed 28800.  27000-29000 CE liquidated 1.1 Lakh in OI so bears  covered position  in the zone of 28200-28300.
  • 28000 PE is having highest OI @4.2 Lakh, strong support at 28300 followed by 28000.26000-28000 PE added 1.2 Lakh OI so bulls making strong support in the range of 28000-28300.

Buy above 28500 Tgt 28580 ,28656 and 28800 (Bank Nifty Spot Levels)

Sell below 28370  Tgt 28300,28200 and 28080(Bank Nifty Spot Levels)

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