Bank Nifty reacts from gann arc,EOD Analysis

By | July 18, 2016 11:02 pm
  • As discussing in past analysis  Close above 18898 can see another quick move towards 18969/19103, traders should trail longs with strict stop loss of 18750,Weekly close above 18768 can see fast move towards 19230. Nifty made high of  19158, doing target 19103 and missing the target of 19230 by few points. till we are holding 18896 we can see move till 19103/19230, Bearish only close below 18700. When not to Trade

bank nifty gann arc resista

  • Bank Nifty July Future Open Interest Volume is at 23.8 lakh with liquidation of 0.14 lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover is 75 % Rollover cost is coming at 17722  Do you know your Risk of Ruin in trading ?
  • 19000 CE is having highest OI @4.4 Lakh resistance formation @19000. 17000-19000 CE saw 0.15 lakh liquidation in OI so bears have started squaring off their position.
  • 18000 PE is having highest OI @5 Lakh, strong support at 18000 followed by 17500, Bulls added  1.6 Lakh in OI in 17000-19000 PE aggressive addition in 19000 PE.

Buy above 19000 Tgt 19092,19150 and 19260 (Bank Nifty Spot Levels)

Sell below 18885 Tgt 18820,18720 and 18550 (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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