Bank Nifty hold the gann arc,EOD Analysis

By | January 21, 2016 7:39 pm
  •  As discussed in last analysis Range of 15320-15380 is very crucial closing above it bulls will rise more and unable to do so we can revisit 15000 level again. Bank Nifty opened with gap up made high of 15364 and corrected till the green gann arc and bounceback, Todays price action suggest a change in trend as we saw buying near the demand zone. Break of 15380 can see move towards 15713/15872. Bearish only on break of 14750.  Trading Quotes from Curtis Faith

Daily Gunner


  • Bank Nifty January Future Open Interest Volume is at 28.1 lakh with liquidation of 1.1  Lakh with increase in Cost of Carry suggesting short positions were added today .Bank Nifty rollover cost coming @ 16957 and corrected heavily one started trading below Rollover Price.How To Identify Market Tops and Bottom
  • 16000 CE is having highest OI @8.1 Lakh strong resistance formation @16000. 15500 CE saw 0.4 addition by bears is next line of resistance once 15380 is crossed .15000-16000 CE added 1.7 Lakh in OI, normal addition shown by bears.
  • 15000 PE is having highest OI @5.4 lakh, strong support at 15000 and 14800-14600 is also strong support looking at OI addition.14500-15500 PE saw 0.27 lakh addition so bulls not adding aggressively

Buy above 15200 Tgt 15300,15380 and 15550 (Bank Nifty Spot Levels)

Sell below 15100 Tgt 14920,14790 and 14680 (Bank Nifty Spot Levels)

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4 thoughts on “Bank Nifty hold the gann arc,EOD Analysis

  1. Amit

    Follow the price wherever it takes ?????

    Say nifty is at 7400 today, and it is going up… 7600.. 7700…
    How do you know where it is taking you ?

    It then starts going down 7600… 7500….
    What is the basis of your trade ? buy and sell ?

  2. Sb

    I presume no analyst ever said to ignore levels infact they always give calls based on levels. We most likely to know the tops and bottoms, trend reversals long before the price action riders which is possible only with technical analysis.

  3. Bramesh Post author

    If you do not have level you do not know where to exit.. And if you do not know where to exit its becomes very difficult to trade..

    having an exit strategy is very very imp


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