Bank Nifty complete Gann Master Cycle

By | December 29, 2020 7:54 pm
  • As Discussed in Last Analysis Now Bulls need to move above 30930 for a move back to 31050/31200/31473. Bears below 30729 can move back to 30500/30391/30100. Bank Nifty will be completing 1 gann cycle tommrow suggesting time for another big move and potential price time sqauring. Bulls need to move above 31360  for a move back to 31450/31584/31810. Bears below 31220 can move back to 31100/30900/30740.

  • Bank Nifty Nov Future Open Interest Volume is at 11.9 lakh with liquidation of 1.17 Lakh, with idecrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29413 closed above it.
  • 31500 CE is having highest OI @16.8 Lakh resistance at 31500 followed 31800.31000-32000 CE added 8 Lakh in OI so bears added position in the zone of 31000-30200.
  • 30800 PE is having highest OI @12.6 Lakh, strong support at 30800 followed by 30500 .29000-31000 PE added 18 Lakh OI so bulls making support in the range of 30800-31000.

Buy Above 31360 Tgt 31450,31585 and 31810 (Bank Nifty Spot Levels)

Sell Below 31220 Tgt 31100,30900 and 30740 (Bank Nifty Spot Levels)

Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

Leave a Reply