Gann Price Time Square:Bank Nifty Crashes 1666 points

  • As discussed in Last Analysis   32786 watchout for this number as and when it hits this levels 1000 points move will be seen either side.  Now Bulls need to break 32424 for a move back to 32666/32786/32900. Bears below 32040 can see fall back to 31850/31666/31500. All Bearish target done and Bank Nifty did all target on downside once below 32786 aperfect Gann Price time Squaring level. Now Important level to watch out is 30909 on downside which is again a potential level for 500 points move either side.Bulls need to move above 31320 for a move back to 31472/31625/31786. Bears below 31099 for a move back to 30909/30786/30470.

  • Bank Nifty Jan Future Open Interest Volume is at 14.7 lakh with liqudiation of 0.37 Lakh, with decrease in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @31230 closed above it.
  • 32000 CE is having highest OI @13.9 Lakh resistance at 31500 followed 32000.30000-33000 CE added 28.3 Lakh in OI so bears added position in the zone of 32800-33300.
  • 31000 PE is having highest OI @6.9 Lakh, strong support at 31000 followed by 30500 .31000-32000 PE added 3.2 Lakh OI so bulls making support in the range of 31500-31800.

Buy Above 31323 Tgt 31472,31625 and 31786 (Bank Nifty Spot Levels)

Sell Below 31099 Tgt 30820,30666 and 30420 (Bank Nifty Spot Levels)

Leave a Reply