Will Bank Nifty Bull hold 15136, EOD Analysis

By | March 10, 2016 10:52 pm
  • Bank Nifty made low of 15098 but again managed to close above 15136 just near the gann horizontal gann line, which had been proving resistance in past,closing above the same can see another move towards 15555 . Support has increased in range of 14900-15000. Resistance in range of 15400-15440. Critical Skills for Trading in Stock Market

Stuck in Gann Arc

  • Bank Nifty March Future Open Interest Volume is at 18.8 lakh with liquidation of 0.59 lakh  with increase in Cost of Carry suggesting long positions were closed today. Bank Nifty able to close above  Rollover price @14115 and gave 1300 Points. How To Identify Market Tops and Bottom
  • 15500 CE is having highest OI @5.7 Lakh resistance formation @15500. 13500-15500 CE saw 0.92 lakh addition as bears  added aggressively as   bank nifty still closing below 15500.
  • 14500 PE is having highest OI @4.8 Lakh, strong support at 14500 followed by 14000, Bears took a back seat and no major addition was seen in 14500/15000 PE.14000-16000 PE saw 0.005 lakh addition so bulls losing hope as supply zone becoming stronger above 15300. Range for March Series comes @ 13000-15500.

Buy above 15220 Tgt 15320,15450 and 15555 (Bank Nifty Spot Levels)

Sell below 15050 Tgt 14960,14850 and 14720 (Bank Nifty Spot Levels)

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Category: Bank 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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