Bank Nifty ready for big move,EOD Analysis

By | May 6, 2018 7:25 pm
  • As Discussed in Last Analysis Low made today was 25469 so bulls held on to gann angle support as shown in below chart second day in a row ,so upmove can continue towards 25777/25920 above 25630. Bearish below 25344 for the downmove towards 25200/25050. 06 May is an important trend change date so we can see effect either tommrow or Monday. Another day passed and bank nifty held on to its gann angle, and closed above 25645. So we are heading towards 25777/25920/26050. Bearish below 25344 for the downmove towards 25200/25050. Expect good move in bank nifty in next 2 days. Bank Important intraday time for reversal can be at  11:55/2:07. Time Based Scanner for Stocks for 01-05 May

  • Bank Nifty May Future Open Interest Volume is at 24.6 lakh with liquidation of 0.01 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24969  closed above it and rallied 400 points.
  • 26000 CE is having highest OI @3.9 Lakh resistance at 25800 followed 26000.24000-26000 CE added 0.14 lakh in OI so bears added minor position at higher level making resistance in range of 25600-800


  • 24500 PE is having highest OI @9.6 Lakh, strong support at 25300 followed by 25000.24000-26000 PE  added 0.53 lakh in OI so bulls having strong support in range of 24800-25000.


Buy above 25680 Tgt 25750,25850 and 25930 (Bank Nifty Spot Levels)

Sell below 25600 Tgt 25550,25470 and 25400 (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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