Bank Nifty corrects from gann arc, EOD Analysis

  •  Bank Nifty closed below 14251 and saw the decline and the big move also came which we have discussed here, Gann Arc showed its effect again as Bank nifty unable to cross the gann arc. Now again the range of 13810-13890 becomes important for coming 2 days.Bullish only on close above 14143.  Nifty 50 To Have 51 Securities , First time DVR added

Daily Gunner

  • Bank Nifty February Future Open Interest Volume is at 20.9  lakh with liquidation of 0.20 lakh  with decrease in Cost of Carry suggesting long positions were closed today. Rollover stand at 34.7 % and Rollover price @14318.Bank Nifty  again gave 1500 points move below rollover cost @ 15441. How To Identify Market Tops and Bottom
  • 14500 CE is having highest OI @7.1  Lakh strong resistance formation @14500. 14000-14500 CE saw 8.2 lakh addition as bank nifty closed below 14251 .
  • 13500 PE is having highest OI @4.5 Lakh, strong support at 13500, Bears added aggressively in 13900 PE.13500-14500 PE saw 3.4  lakh liquidation bulls ran for cover.

Buy above 14130 Tgt 14200,14270 and 14373 (Bank Nifty Spot Levels)

Sell below 13950 Tgt 13880,13810 and 13700 (Bank Nifty Spot Levels)

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