Bank Nifty Bulls hold gann angle after 1000 point correction

By | June 4, 2018 10:29 pm
  • As Discussed in Last Analysis  Now Bulls need a close above 26784 for a move back to 26920/27074. Bearish below 26640 for a move back to 26500/26352. As soon as 26640 broken bank bears were on front foot and did our target of 26352. 06 June is an important astrological date around which bank nifty has formed a bottom in past and also we are near gann angle support as shown in below chart, so till we are holding 26200 bulls can see a bounce back towards 26500/26640/26920.Bearish below 26200 for a move towards 26064/25920. Bank Important intraday time for reversal can be at 11:38/2:29. How to convert a small trading account to Big one

  • Bank Nifty June Future Open Interest Volume is at 26 lakh with liquidation of 1 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26408 closed below it
  • 27000 CE is having highest OI @7.6 Lakh resistance at 27000 followed 27500.26000-28000 CE added 5.3 lakh in OI so bears added  position at higher level making resistance in range of 27000-27300.


  • 25500 PE is having highest OI @7.3 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 0.90 lakh in OI so bulls having strong support in range of 26100-26200.


Buy above 26300 Tgt 26352,26497 and 26640 (Bank Nifty Spot Levels)

Sell below 26200 Tgt 26070,26000 and 25920 (Bank Nifty Spot Levels)

Category: Bank Nifty Astrology

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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