Bank Nifty continue its rally from gann support

By | April 16, 2019
  • As Discussed in Last AnalysisMarket continue to be in sideways move just like it did in 2014 as discussed in below video Now Bulls need to move above 30000 for a move back to 30078/30165/30351. 30163 done Now bulls need to move above 30165 for a move back to 30296/30430. Bears will get active below 29990 for a move back to 29000/29821/29721.

  • Bank Nifty April Future Open Interest Volume is at 19.6 lakh with addition of 0.34 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29967.
  • 30500 CE is having highest OI @4.8 Lakh resistance at 30200 followed 30500.  29000-31000 CE liquidated 0.77 Lakh in OI so bears covered in the zone of 30000-30300.
  • 29500 PE is having highest OI @4.1 Lakh, strong support at 29700 followed by 29500.29000-31000 PE added 0.13  Lakh OI so bulls making strong support in the range of 29600-29700.

Buy above 30165 Tgt 30225,30333 and  30437 (Bank Nifty Spot Levels)

Sell below 30030 Tgt 29970,29850 and 29721 (Bank Nifty Spot Levels)

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