Bank Nifty React from Gann Angle,EOD Analysis

  •  As discussed in last analysis  Bulls now need to move above 20000 for a move back to 20400/20666/21000. Bears will get active below 19385 for a move back to 19000/18600/18300/18000. Very Important astro date today. Bank Nifty opened with gap up and reacted from gann angle and showed an intraday correction. Now till we do not break Friday High Bank Nifty bears have upperhand, Bulls now need to move above 20521 for a move back to 20800/21094/21400. Bears will get active below 19550 for a move back to 19200/18900/18600/18200.

  • Bank Nifty April Future Open Interest Volume is at 86 lakh with addition of 13 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @17939 closed above it
  • 21000 CE is having highest OI @11  Lakh resistance at 20500 followed 21500.18000-21000 CE added 21 Lakh in OI so bears added position in the zone of 18000-19000
  • 18000 PE is having highest OI @15 Lakh, strong support at 18500 followed by 18000.17000-18000 PE added 10 Lakh OI so bulls making support in the range of 18000-19000.

Buy above 20153 Tgt 20337,20521 and  20800 (Bank Nifty Spot Levels)

Sell below 19580 Tgt 19211,18900 and 18600  (Bank Nifty Spot Levels)

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