Bank Nifty Reacts from Gann Angle Resistance

  • As discussed in Last Analysis  Now as we have Weekly closing tomorrow Bears have upper hand till we are below 31415 and can push index towards 31060/30990. Bulls will get active above 31430 for a move back to 31600/31800.High made was 31436 in spike so bulls unable to sustain above 31436 and bears once below 31415 did 30990 on downside. Now Bears need to break 30777 for a move back to 30639/30388, Bulls have there chance above 31020 for a move back to 31200/31400.Fall started from 14 Feb as per Neural Analysis

  • Bank Nifty Jan Future Open Interest Volume is at 12.6 lakh with liquidation of 0.01 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @30990 closed below it.
  • 31500 CE is having highest OI @3.6 Lakh resistance at 31300  followed 31500.30000-32000 CE added 26  Lakh in OI so bears added position in the zone of 31300-31500.
  • 30500 PE is having highest OI @4 Lakh, strong support at 30500 followed by 30300.30000-32000 PE added 5 Lakh OI so bulls making support in the range of 30300-30500.

Buy above 30925 Tgt 31106,31225 and  31410 (Bank Nifty Spot Levels)

Sell below 30770 Tgt 30666,30525 and 30355 (Bank Nifty Spot Levels)

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