Bank Nifty crashes once Gann date low was broken

  • As Discussed in Last Analysis  Now Bears need to break 27717 for down move to continue towards 27550/27300. Bulls will get active above 27900 for a move back to 28051/28225. Break of today high and low can easily give 300-500 points. 27300 done below 27717 and we also corrected 300 points below yesterday low . Bears will get active below 27225 for a move back to 27000/26700. Bulls will get active above 27421 for a move back to 27581/27836/28000. We have monthly closing tomorrow bulls would like to close in range of 27561-27600. 

  • Bank Nifty Sep Future Open Interest Volume is at 15.1 lakh with addition of 6.5 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27807 closed below it.

Buy above 27421 Tgt 27555,27666 and  27777 (Bank Nifty Spot Levels)

Sell below 27225 Tgt 27123,27000 and 26800 (Bank Nifty Spot Levels)

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