Bank Nifty rallies on Gann Time Cycle Date,EOD Analysis

  • As Discussed in Last Analysis  Low made today was 26454 but closed above 26490. High made was 26640 so bank nifty did 1 target of 26640. Tomorrow is very important gann date so we can see good move either tomorrow or Monday. Bullish above 26555 for a move towards 26640/26784/26920.Bearish below 26450 for a move towards 26352/26210. Bear got active below 26450 and low made was 26364 near our target of 26352 and once 26555 was taken our rallied and did 2 target, so we got the range expansion on gann time analysis date. Now till 26640  is held bulls will have upper hand and can rally all the way towards 27200/27360/27500. Bearish below 26600 for move towards 26496/26352/26210. Bank Important intraday time for reversal can be at 10:43/2:18.What is a reasonable objective for a day trader?

  • Bank Nifty June Future Open Interest Volume is at 27.9  lakh with addition of 1.67 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26408 made low of 26418 and closed above it.
  • 27000 CE is having highest OI @15.8 Lakh resistance at 27000 followed 27500.26000-28000 CE liquidated 2.1 Lakh in OI so bears covered  position at higher level  still resistance in range of 26900-27000.

 

  • 26000 PE is having highest OI @11.2 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 18.2  lakh in OI so bulls having strong support in range of 26200-26300.

 

Buy above 26800 Tgt 26920,27000 and 27088 (Bank Nifty Spot Levels)

Sell below 26720 Tgt 26645,26520 and 26450 (Bank Nifty Spot Levels)

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