Bank Nifty bounces 778 points above gann support,EOD Analysis

By | January 26, 2017 6:21 pm
  • As discussed in Last Analysis   Few readers were asking importance of 18740 below is the gann angle chart with support at 18740 which worked perfectly as bank nifty now has bounced 300 points in 2 days from that support levels, We moved above 18967 today and mostly we will do 19100 tommrow high made today was 19054, Now bulls need close above 19100 for a move towards 19250/19500. Bearish only on close below 19740. Bank Nifty closed above 19067 suggesting bulls are in control and opened above 19100 suggesting bulls are gaining momentum and fired all guns doing target of 19500. Now bulls need close above 19700 for a move towards 20400. Bearish only on close below 19100. As i always say Gann Analysis keeps you ahead of curve and if coupled with time analysis it becomes a lethal combo.    Holy Grail for Successful trading

  • Bank Nifty Feb Future Open Interest Volume is at 19.2 lakh with addition of 7.2 lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @19020 rollover percentage at 69 %

Buy above 19650 Tgt 19770,19870 and 20000 (Bank Nifty Spot Levels)

Sell below 19450 Tgt 19370,19220 and 19050 (Bank Nifty Spot Levels)

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