Bank Nifty holds 19500 and gann trendline,EOD Analysis

By | September 27, 2016 10:02 pm
  •  As discussed in Last analysis  Now bulls should hold the 19450-19500  range near gann angle line for upmove back towards 19800/20200. Close below 19500 can quickly push bank nifty towards 19360/19100. Bank Nifty continue to hold 19500 and gann trendline as shown in below chart,Bulls needs to hold 19451-19500 range for target of 19732. Any close below 19451  target of 19300/19100.   3 Mantra of Successful Trading


  • Bank Nifty Sep Future Open Interest Volume is at 17.9 lakh with liquidation of 1.4 lakh, with rise in Cost of Carry suggesting short positions were added today. Bank nifty closed above Rollover cost ,rallied 1000 points before this correction.  Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @10.1 resistance at 20000. 19000-21000 CE saw 0.94  lakh addition in OI so bears added aggressively in 20000-20500 CE
  • 19000 PE is having highest OI @11.2 Lakh, strong support at 19000 followed by 19500, Bulls liquidated 3.5 Lakh in OI in 18500-20500 PE  bulls ran for cover in the range of 19800-19900 range and added in 19400-19600 zone.

Buy above 19570 Tgt 19650,19780 and 19870 (Bank Nifty Spot Levels)

Sell below 19400 Tgt 19350,19210 and 19100 (Bank Nifty Spot Levels)

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