Bank Nifty trades near gann angle,EOD Analysis

By | November 1, 2016 7:18 pm
  •  As discussed in Last analysis Bank Nifty took support near gann angles as shown in below chart, Holding 19500 we can see upmove towards 19700 but Bulls will get active only above 19700 for quick move towards 19900/20000. Bears below 19500 can quickly push towards 19300/19000. Bank Nifty closed below 19500 and just near the gann support line as shown in below chart, Unable to close above 19500 tomorrow bears will push nifty below 19300/19000. Bulls will get active above 19700 only in between choppy moves.   Muhurat Trading: Vows Traders should make to avoid loss in coming Year


  • Bank Nifty Nov Future Open Interest Volume is at 17.3 lakh with addition of 1.99 lakh, with fall in Cost of Carry suggesting short positions were added today. Bank nifty closed below Rollover cost 19750. Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @5.2 Lakh resistance at 20000. 19000-21000 CE saw addition of 2.2 lakh in OI so bears added aggressively in 19600-19700 CE.
  • 19000 PE is having highest OI @7.1 Lakh, strong support at 19000 followed by 19300, Bulls added 5.7 Lakh in OI in 18500-20500 PE  bulls added aggressively in 18500-18800 PE.

Buy above 19590 Tgt 19650,19725 and 19850 (Bank Nifty Spot Levels)

Sell below 19500 Tgt 19420,19360 and 19250 (Bank Nifty Spot Levels)

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