- As discussed in Last Analysis Bank Nifty closed above 19067 suggesting bulls are in control and opened above 19100 suggesting bulls are gaining momentum and fired all guns doing target of 19500. Now bulls need close above 19700 for a move towards 20400. Bearish only on close below 19100. As i always say Gann Analysis keeps you ahead of curve and if coupled with time analysis it becomes a lethal combo. Bank Nifty continued its rally and closed above 19700, Holding 19700 bank nifty can bounce till 20000/20400. Bearish only on closed below 19360 for a move till 19140/18920. King Raghu’s story
- Bank Nifty Feb Future Open Interest Volume is at 21.5 lakh with addition of 2.2 lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @19080.
- 20000 CE is having highest OI @4.6 Lakh resistance at 20000. 19000-21000 CE saw addition of 3.3 lakh in OI so bears added in 20500/21000.
- 19000 PE is having highest OI @ 4.6 Lakh, strong support at 19000 followed by 18500, Bulls added 4.9 Lakh in OI in range of 19000-21000 PE massive addition by bulls suggesting 18500 can become support for the series.
Buy above 19750 Tgt 19823,19939 and 20050 (Bank Nifty Spot Levels)
Sell below 19650 Tgt 19570,19450 and 19360(Bank Nifty Spot Levels)
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