Bank Nifty near Gann Price Time Square

By | June 1, 2021 10:09 pm
  • As Discussed in Last Analysis Bulls need to move above 35600 for the move to contiue towards 35800/36000/36400 . Bears will get active below 35343 for a move back to 35100/32920/32817. We got whipsawed today both on upside and downside, Now we are nearing an important gann price time  squaring as tommrow is 81 trading days from low made of 29 Jan, Venus Ingress  and we are near gann angle resistance as shown in below chart. Now Bears need to break 35225 for a move back to 34960/34674/34400. Bulls need to move above 35480 for a move back to 35620/35777/35900

  • Bank Nifty June  Future Open Interest Volume is at 17.3  lakh with addition of 0.07  Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @34885 closed above it.
  • 36500 CE is having highest OI @20.8 Lakh resistance at 36000 followed 36500.35000-36000 CE added 12.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 34000 PE is having highest OI @18.3 Lakh, strong support at 34500 followed by 34000 .34000-35000 PE added 17 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35385 Tgt 35477,35666 and 35900 (Bank Nifty Spot Levels)

Sell Below 35225 Tgt 35125, 34980 and 34679 (Bank Nifty Spot Levels)

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