- As discussed in Last analysis Close above 19700 on Weekly basis can see bank nifty moving towards all time high. Now Bulls need to hold 19700 on Weekly basis as seen in below chart of gann angles, we have closed above the important gann line, Now holding the range of 19700-19550 bank nifty can move towards 20500/21000. Bears will get active below 19508 Bank Nifty closed above 19700 on Weekly basis which is big positive for bulls, Now we should be headed towards 20500/20600 as per Wolf Wave shown below. Bears will get active below 19500 only in between time correction. Do Not Limit Yourself
- Bank Nifty Sep Future Open Interest Volume is at 29 lakh with liquidation of 0.02 lakh, with rise in Cost of Carry suggesting short positions were closed today. Bank nifty closed below Rollover cost 19450 closed above it,rallied 500 points. Do you know your Risk of Ruin in trading ?
- 20000 CE is having highest OI @8.9 Lakh resistance formation @20000. 18500-20500 CE saw .59 lakh liquidation in OI so bears running for cover in 20000-21000 CE.
- 19000 PE is having highest OI @8.2 Lakh, strong support at 19000 followed by 19500, Bulls added 2.3 Lakh in OI in 18500-20500 PE so bulls making support in zone of 19000-19200 zone.
Buy above 20000 Tgt 20080,20175 and 20300 (Bank Nifty Spot Levels)
Sell below 19840 Tgt 19810,19750 and 19680 (Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates
Click Here to Join me on Twitter