Bank Nifty holds its gann arc,EOD Analysis

Weekly Gunner


  • Bank Nifty December Future Open Interest Volume is at 21.3 lakh with liquidation of 0.28 Lakh with decrease in CoC suggesting long position were closed today.Bank Nifty rollover cost coming @ 17158 .Can Traders make money in Stock market?
  • 18000 CE is having highest OI @5.1 Lakh strong resistance formation @18000. 17500 CE added 0.03 lakh so no position were added by bears as bank nifty took support near trendline and did not break 16850.17000-18000 CE added 0.63 Lakh in OI.
  • 17000 PE is having highest OI @6.6 lakh strong base @17000 followed by 16500 @4 Lakh. Range of Bank Nifty still remains in the range of 16500-17500 start of December series.17000-18000 PE liquidated  0.06 Lakh in OI so liquidation was seen by Bulls.

Buy above 16980 Tgt 17058,17106 and 17170(Bank Nifty Spot Levels)

Sell below 16900 Tgt 16800,16720 and 16600 (Bank Nifty Spot Levels)

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