Will Bank Nifty give relief rally holding gann angle,EOD Analysis

By | May 18, 2018 1:08 am
  • As Discussed in Last Analysis  High made today was 26248 so bulls unable to scale towards 26500, once 26352 broken bank nifty did low of 26100 near our 2 target of 26064 and gann angle support. Bulls need close above 26210 for a move towards 26352/26496/26640. Bearish below 26050 for a move back towards 25920/25776.  Low made today was 26012 so bears were unable to reach the target of 25920 and close above 26050 so we are in neutral zone and also took support gann angle. 18-19 May are another important astrological date, suggesting we can see good move either Friday or Monday.Bulls need close above 26110 for a move towards 26210/26352/26496/26640. Bearish below 26000 for a move back towards 25920/25776.  Bank Important intraday time for reversal can be at 11:15/2:15. Trading Is Harder Than You Think: Complexity Of Trading

  • Bank Nifty May Future Open Interest Volume is at 31  lakh with addition of 0.40 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24969  closed above it and rallied 1000 points.
  • 26500 CE is having highest OI @11.8 Lakh resistance at 26500 followed 26800.25000-27000 CE added 1.1 lakh in OI so bears added position at higher level making resistance in range of 26500-26700.


  • 25500 PE is having highest OI @5.7 Lakh, strong support at 26000  followed by 25800.25000-27000 PE  added 0.13  lakh in OI so bulls having strong support in range of 26000-25800.


Buy above 26130 Tgt 26220,26310 and 26400 (Bank Nifty Spot Levels)

Sell below 26000 Tgt 25920,25850 and 25700 (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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