Bank Nifty takes support near Gann Arc,EOD Analysis

  • Bulls were  unable to close above 17466 where demand zone lies, Bears took the opputunity to push bank nifty towards supply zone at 17170 low made today 17164 and Bulls came back pushing bank nifty above gann swing line, suggesting we are still in range bound mode. Support at 17170/16964 range and Resistance at 17330/17466 zone. How Your Brain Gets In The Way of Your Trading Success

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  • Bank Nifty December Future Open Interest Volume is at 19.1 lakh with liquidation of 0.97Lakh 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 @4.6 Lakh strong resistance formation @18000. 17500 CE added 0.35 lakh so bears added major position as bank nifty unable to close above 17500.17000-18000 CE added 1.2 Lakh in OI.
  • 17000 PE is having highest OI @6.7 lakh strong base @17000 followed by 16500 @3.9 Lakh. Range of Bank Nifty still remains in the range of 16500-17500 start of December series.17000-18000 PE liquidated  0.10 Lakh in OI so major liquidation seen by Bulls.


Buy above 17300 Tgt 17400,17470 and 17591(Bank Nifty Spot Levels)

Sell below 17160 Tgt 17100,16984 and 16800 (Bank Nifty Spot Levels)

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4 thoughts on “Bank Nifty takes support near Gann Arc,EOD Analysis”

  1. OK … so for intraday traders using intraday TC levels , SL are 20 and 50 for NF and BNF respectively. for positional traders, the TC levels of the subsequent days are the SL and reversal levels . Thanks

  2. Hi Bramesh, the SL levels mentioned as in 20 pts for NF and 50 pts for BNF. Is this for positional trades…. what should be the SL levels for NF and BNF intra days trades as per TC levels

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