Bank Nifty Trades between Gann Angle

  • As discussed in Last Analysis   Bank Nifty made low of 23114 and high of 23322 so both bulls and bears got whipsawed after yesterday fall, as we approach expiry. Bullish above 23350 for a move towards 23600/23900. Bearish below 23100 for a move towards 22900/22600. Bank Nifty moved between the gann angles as shown in below chart, Breakout/breakdown will come when we either break 23100 on downside for a move towards 22900/22600. Breakout above 23476 for a move above 23630/23876.  Are You Comfortable with your trading ?

  • Bank Nifty June Future Open Interest Volume is at 22.7 lakh with addition of 8 Lakh, with increase in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @23361, closed below it. Rollover % is at 67.3.

 

Buy above 23280 Tgt 23420,23510 and 23630 (Bank Nifty Spot Levels)

Sell below 23120 Tgt 23075,23000 and 22900 (Bank Nifty Spot Levels)

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