Bank Nifty rallies 400 points as per Gann 26 Week Theory

By | March 5, 2019 11:59 pm
  • As Discussed in Last Analysis Bank Nifty has been trading in range bound from last 26 week as per gann after 26 week we tend to see big move so high (27189)and low (26719) of last week are very important. Bulls will rally above 27100 for a move back to 27225/27360. Gann 26 Week theory combined with High of Surgical strike day worked perfectly and we saw almost 400 points rally above 27189. Now Bulls need to move above 27600 for a move towards 27840/27936/28000. Bears will get active below 27350 for a move back to 27225/27100.

  • Bank Nifty March Future Open Interest Volume is at 17.5 lakh with addition of 3.3 Lakh, with increase 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 600 points
  • 27500 CE is having highest OI @3.1 Lakh resistance at 27700  followed 28000.  26000-28000 CE added 1.1 Lakh in OI so bears added position  in the zone of 27700-28000.
  • 27000 PE is having highest OI @3.6 Lakh, strong support at 27200 followed by 27000.26000-28000 PE added 1 Lakh OI so bulls making strong support in the range of 27100-27200.

Buy above 27580 Tgt 27648 ,27780 and 28000 (Bank Nifty Spot Levels)

Sell below 27500 Tgt 27400,27300 and 27100 (Bank Nifty Spot Levels)

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Category: Gann 26 Week Theory

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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