Bank Nifty rallies 700 points from Gann Support Zone

By | April 17, 2019
  • As Discussed in Last Analysis Now bulls need to move above 30165 for a move back to 30296/30430. All Bullish target done and we got the big move as per our expectation and discussed in below video. Now Bulls need to close above 30600 for up move to continue towards 30700/30816/30960/31080. Bears will get active below 30380 for a move back to 30240/30096.

  • Bank Nifty April Future Open Interest Volume is at 20.6 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29967.
  • 30500 CE is having highest OI @7.5 Lakh resistance at 30500 followed 30700.  29000-31000 CE added 3.6 Lakh in OI so bears added in the zone of 30600-30800.
  • 30000 PE is having highest OI @4.5 Lakh, strong support at 30000 followed by 29800.29000-31000 PE added 2  Lakh OI so bulls making strong support in the range of 30000-30200.

Buy above 30600 Tgt 30666,30754 and  30839  (Bank Nifty Spot Levels)

Sell below 30410 Tgt 30310,30228 and 30125  (Bank Nifty Spot Levels)

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One thought on “Bank Nifty rallies 700 points from Gann Support Zone

  1. Kishore

    Sir, Upper and lower end of expiry not covered at the bottom of the article.

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