Bank Nifty Continues correction below 25488,EOD Analysis

By | December 2, 2017 7:40 am
  • As discussed in Last Analysis   We got the expected expiry fireworks with bank nifty correcting more than 450 points, Bank nifty opened gap down below 25750 and did all targets on downside. This is how gann angle, combined with arc and time helps us in capturing big move, Now for December series 25488 will play crucial role as close above it we can see quick rally towards 25620/25801/25920/26200. Bearish below 25300 for a move towards 25150/24940/24750. High made today was 25441 so bulls were unable to break 25488 and bears as soon they broke 25300 did the first target of 25150 as low made was 25152. Till we are below 25250 we can correct all the way towards 25000.24800. 24780-24800 is important support zone so if prices comes around this level its a good point to enter of long side. Bullish above 25300 for a move towards 24888/25611.  Everyone can play

  • Bank Nifty Dec Future Open Interest Volume is at 15.9 lakh with addition of 1.2 Lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover cost @25844, closed below it.
  • 26000 CE is having highest OI @7.7 Lakh resistance at 26000 followed 26500.24500-26500 CE added 2.4 lakh in OI so bears added position at higher level at the start of the series.


  • 25000 PE is having highest OI @7.1 Lakh, strong support at 25000 followed by 24800.24500-26500 PE added  4.7 lakh in OI so bulls added position at lower level making base in range of 25500-25200 even after a big fall.


Buy above 25261 Tgt 25371,25440 and 25550 (Bank Nifty Spot Levels)

Sell below 25150 Tgt 25082,24980 and 254900(Bank Nifty Spot Levels)

Category: Daily

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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