Bank Nifty again get resisted at gann line,EOD Analysis

By | October 15, 2015 7:45 pm
  • Bank Nifty Opened with gap up and tried to move above the resistance zone of 17750 where we have multiple top but again made a high of 17752 and fall back,As shown in gann box chart bank nifty was unable to move above 1×1 line and pyrapoint chart also unable to close above 180 degree angle, continuing with its consolidation mode .17850 is breakout area for 18050/18144 and 17350 is breakdown area for 17177/17000, In between its pure consolidation mode. The ‘formula’ for trading Success :Consistency

Gann Box

BANKNIFTY - Pyrapoint


  • Bank Nifty October Future Open Interest Volume is at 23.4  lakh with addition of 1.24  Lakh with increase in CoC suggesting long  position were added today. Rollover cost @17334, and bank nifty closed above it but near rollover price.
  • 18000  CE  OI at 6.3  lakh with liquidation of 0.40  lakh suggesting , wall of resistance @ 18000 .17500 CE liquidated 0.28 lakh so bears liquidated positions in 17500 CE. 17000-18000 CE liquidated 0.89  Lakh, so Bears liquidated position which were added yesterday.
  • 17000 PE OI@ 6.1lakhs  strong base @ 17000.  16500/17000 PE  liquidated 0.84  lakh so bulls are still not confident bank nifty can cross 18000. 16000/17000 PE liquidated 0.90 lakh.

Buy above 17770 Tgt 17850,17930 and 18055 (Bank Nifty Spot Levels)

Sell below 17590 Tgt 17504,17400 and 17200 (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.

4 thoughts on “Bank Nifty again get resisted at gann line,EOD Analysis

  1. deepak

    Name of 11 banks have cropped up related to black money transastions.Do u think it will have negative impact on banking stocks and BNF?


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