Bank Nifty near Gann Angle Support

  • As discussed in last analysis  Bears will get active below 19600 for a move back to 19430,19335,19233.Mars and Venus have went Ingres today so today high and low will be important for next 500-800 points move in Bank Nifty. We had another gap down opening and now prices are back to gann angle support. Bears need to break 19000 for a move back to 18800/18580. Bulls will get active above 19210 for a move back to 19450/19646.

  • Bank Nifty May Future Open Interest Volume is at 11.7  lakh with liquidation of 0.34 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @20762 closed below it
  • 19500 CE is having highest OI @3.2 Lakh resistance at 19500 followed 20000.19000-22000 CE added 2.3 Lakh in OI so bears added position in the zone of 20000-20500.
  • 18500 PE is having highest OI @3.4 Lakh, strong support at 18800 followed by 18500.18000-20000 PE added 1.4 Lakh OI so bulls making support in the range of 18500-18300.

Buy Above 19210 Tgt 19333,19450 and 19610  (Bank Nifty Spot Levels)

Sell Below 19000 Tgt 18920,18800 and  18610 (Bank Nifty Spot Levels)

3 thoughts on “Bank Nifty near Gann Angle Support”

  1. Sell Below 19000 Tgt 19920,19800 and 19610 (Bank Nifty Spot Levels)

    its 18820,18800,18610

    think typo bramesh ji

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