Bank Nifty heading towards 18750,EOD Analysis

By | July 11, 2016 10:24 pm
  • As discussing in past analysis We has 4 small days near gann horizontal line suggesting big move in round the corner. Also as per Supply demand analysis close below 17955 can see sharp decline towards 17800/17650.Bullish only on close above 18100 looking at current price action, Bearish below 17400 in between will be range bound move. Bank Nifty opened gap up above 18100 at 18250 suggesting bulls were in command, Now Bulls should above 18300 on closing basis for next move towards 18768/19000. The Universal Principles of Successful Trading

bank nifty gann arc resistance

  • Bank Nifty July Future Open Interest Volume is at 20.8 lakh with addition of 1.9  lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover is 75 % Rollover cost is coming at 17722  Do you know your Risk of Ruin in trading ?
  • 18500 CE is having highest OI @3.2 Lakh resistance formation @18500. 17000-19000 CE saw 0.12 lakh addition in OI so bears are adding in range of 18600-19000 range.
  • 18000 PE is having highest OI @3.9 Lakh, strong support at 18000 followed by 17500, Bulls added  2.4 Lakh in OI in 17000-19000 PE aggressive addition in 18000 PE.

Buy above 18460 Tgt 18510,18600 and 18760(Bank Nifty Spot Levels)

Sell below 18300 Tgt 18190,18100 and 18000 (Bank Nifty Spot Levels)

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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.

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