Bank Nifty break out of gann angle,EOD Analysis

  • As Discussed in Last Analysis   Bank Nifty bears got whipsawed but bulls made a 25796 near our target of 25800 we saw good reversal on time cycle date of 13 Nov. Now Bulls need a close above 25800 for rally to sustain all the way till 26000/26300. Bearish below 25666 for a move back to 25525/25400. Low made today was 25809 so bulls defended 25800 and rallied towards our target of 26000. Now Bulls need a close above 25945 for rally to continue towards 26050/26200/26344. Bearish below 25800 for a move back to 25666/ 25525/25400. Important intraday time for reversal can be at 9:40/1:18/2:34. Time Cycle Stock Scanner for 11-16 Nov

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 14.1  lakh with addition of 0.75 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @25131 rollover closed above it rallied 800 points .
  • 26000 CE is having highest OI @7.7 Lakh resistance at 26000  followed 26300.  24000-27000 CE added 0.12 Lakh in OI so bears added in range 26000-26500 CE.
  • 25000 PE is having highest OI @9.2 Lakh, strong support at 25500 followed by 25200.24000-26000 PE added 1.41  lakh OI so bulls continue to add in range of 25000-25300.

 

 

Buy above 25950 Tgt 26030,26125 and 26225 (Bank Nifty Spot Levels)

Sell below 25800 Tgt 25720,25666 and 25555 (Bank Nifty Spot Levels)

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