Bank Nifty continue to hold Gann Angle,EOD Analysis

  • As discussed in Last Analysis  Bank Nifty continue to hold on to its gann angle suggesting bulls are holding the grip. Holding the low of 21600 BUlls can continue to see upmove towards 21800/21920/22000. Bearish on close below 21520 for a move towards 21400/21350/21230. New time cycle is starting from coming week (More Details in Weekly Analysis) so we can see good trending move in next 1-2 days. Low made today was 21576 so bulls again held on to gann angle as shown in below chart suggesting game is on for the move towards 21800/21920/22111. Bearish below 21520 for a move towards 21400/21250.  TIMELESS STOCK TRADING RULES of WD Gann

  • Bank Nifty April Future Open Interest Volume is at 30.4 lakh with liquidation of 0.31 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @21316, closed above it and Rollover % at 65.2
  • 22000 CE is having highest OI @5.5 Lakh resistance at 22000. 20500-22500 CE saw addition of 2.33  lakh in OI suggesting bears used the fall to add good amount of OI in range of 21700-22000.
  • 21500 PE is having highest OI @6.9 Lakh, strong support at 21300 followed by 21000, Bulls added 0.73  Lakh position in OI in range of 20500-22500 .

Buy above 21700 Tgt 21760,21820 and 21910 (Bank Nifty Spot Levels)

Sell below 21550 Tgt 21490,21380 and 21300 (Bank Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates

Click Here to Join me on Twitter

Leave a Reply