Bank Nifty December Series Outlook

By | November 26, 2015 11:12 pm
  • Bank Nifty continued with its consolidation trading below gann trendline and signal line suggesting a big move is round the corner as prices are contracting in the triangle. Support remains at 16900 and below that 16830. Resistance at 17170 and than 17280/17466.  How Professional Traders Learn From Their Trading Mistakes

Bank Nifty Supertrend


  • Bank Nifty December Future Open Interest Volume is at 17.8 lakh with addition of 6.5 Lakh .Bank Nifty Rollover is at 70.5 % with rollover cost coming @ 17158 in December Future, Can Traders make money in Stock market?
  • 18000 CE is having highest OI @2.2 Lakh strong resistance formation @18000. 17500 CE added 0.97 lakh so bears added position as bank nifty unable to close above gann trendline ,close above 17170 can lead to fast move in bank nifty.
  • 17000 PE is having highest OI @2.5 lakh strong base @17000 followed by 16500. Range of Bank Nifty still remains in the range of 16500-17500 start of December series.

Buy above 17060 Tgt 17110,17170 and 17250(Bank Nifty Spot Levels)

Sell below 16960 Tgt 16900,16830 and 16720 (Bank Nifty Spot Levels)

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Category: Nifty Technical Analysis

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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