Bank Nifty Back to Gann Angle Support

By | July 8, 2021 10:34 pm
  • As Discussed in Last Analysis   Low made was 35427 so bulls were able to hold range of 35450-35486 now waiting for the target of 35869/36080/36300. Good Trending move should be seen in next 2 trading session as important astro date is coming. Bears will have there chance below 35400 for a move towards 35225/35040/34900. Bulls failed to do the target, Bears below 35400 did 1 target on downside and we got the trending move as confulence of gann and astro date came. We are near gann angle suport  so another upmove can be seen once we move above 35340 for a move towards 35472/35678/36082 Bears will get active below 35130 for a move back to 35040/34864/34730.

  • Bank Nifty July Future Open Interest Volume is at 20.7 lakh with addition of 0.98 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @34909 and Rollover 81.1% closed above it.
  • 36000 CE is having highest OI @25.3 Lakh resistance at 36000 followed 36300. 35000-36000 CE added 24.6 Lakh in OI so bears added position in the zone of 36000-36500.
  • 35000 PE is having highest OI @28.2 Lakh, strong support at 35000 followed by 34500 .34000-35000 PE added 22 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35340 Tgt 35470, 35576 and 35678 (Bank Nifty Spot Levels)

Sell Below 35130 Tgt 35040, 34864 and 34729 (Bank Nifty Spot Levels)

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