Bank Nifty forms DOJI near gann support zone,EOD Analysis

  • As discussed in last analysis Closing below 19000 which is gann angle support as shown in below chart bank nifty can move towards 18800/18612. Bullish only on close above 19300. Bank Nifty High today was 19328 but unable to sustain above 19300 and saw big fall and did the target of 19000 below 19180 and in the process held on to gann angles. Holding the low of 19000 and close above 19140 on hourly basis bank nifty can stage rally towards 19360/19500/19650. Bearish only on close below 19000 for a move towards 18750/18500.   How to Keep Your Cool When Trading


  • Bank Nifty Nov Future Open Interest Volume is at 24.1 lakh with liquidation of 0.05 lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty continued to trade below rollover price @19750 and corrected 400 points.
  • 20000 CE is having highest OI @8 Lakh resistance at 20000. 18500-20500 CE saw addition of 8 lakh in OI so bears added aggressively in range of 19400/19600 CE.
  • 19000 PE is having highest OI @8.4 Lakh, strong support at 19000 followed by 18500, Bulls added 1.3 Lakh in OI in 18500-20500 PE .

Buy above 19150 Tgt 19250,19360 and 19500 (Bank Nifty Spot Levels)

Sell below 19000 Tgt 18950,18830 and 18745 (Bank Nifty Spot Levels)

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