Bank Nifty took support near gann trendline ,EOD Analysis

By | April 4, 2016 10:24 pm
  •  As discussed in last analysis   Supply zone is range of 16229-16250 and Demand zone is back to 15700-15750, High Made was 16278 and bank nifty is stuck between gann line doing consolidation  as shown in below chart. Bank Nifty should breakout above 16300 and breakdown below 16000 after RBI policy on Tuesday, We will get 2 trending move one around 12 and other after 2:30 PM, so trade cautiously.  Are you Victim of “Over Trading”

Daily Gunner

  • Bank Nifty April Future Open Interest Volume is at 16.3  lakh with liquidation of 0.89 lakh, with decrease in Cost of Carry suggesting short positions were added today.Rollover cost @16000 How To Identify Market Tops and Bottom
  • 16500 CE is having highest OI @3.9 Lakh resistance formation @16500. 15000-17000 CE added 4.7 lakh so bear making wall on resistance near 16500-16800 as Bank Nifty closed below the supply zone of 16230.
  • 15000 PE is having highest OI @4.4 Lakh, strong support at 15000 followed by 15500, Bulls again added 4.3 Lakh in OI in 15000-17000 PE.

Buy above 16200 Tgt 16280,16360 and 16450 (Bank Nifty Spot Levels)

Sell below 16150 Tgt 16070,15950 and 15850 (Bank Nifty Spot Levels)

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Category: Gann Trendline

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.

5 thoughts on “Bank Nifty took support near gann trendline ,EOD Analysis

  1. Abhay Dubey

    We will get 2 trending move one around 12 and other after 2:30 PM, so trade cautiously.

    Bramesh ji,
    how are we suggesting this? Is this a hunch or some analysis behind it?

    Reply
    1. Bramesh Post author

      Trading is never done on Hunch or “I feel So” , its always analysis with lot of back testing.

      Rgds,
      Bramesh

      Reply
  2. SC

    Referring yor banknifty move statement are you expecting banknifty to go up above 16300 from 11 to 12 pm and then sharply come down from 2/2:30 (below 16000)?

    Reply
    1. Bramesh Post author

      Nope I just said we see 2 trending move on RBI days measuring 150-200 points around that time.

      Rgds,
      Bramesh

      Reply

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