Bank Nifty bounces from gann angle on event day,EOD Analysis

By | June 6, 2018 10:50 pm
  • As Discussed in Last Analysis  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.. As tommrow is important date and also RBI Policy which will come out around 2 Pm so bulls have chance to rally back towards 26352/26435/26640.  High made today was 26425 so bulls almost did our target of 26435 and we also saw the expected move on the astrological date. Now till today low is not broken bulls will have advantage and can push index towards 26640/26784/26920. Bearish below 26150 for a move towards 26000/25920. Bank Important intraday time for reversal can be at 10:36/12:39/2:46. How to convert a small trading account to Big one

  • Bank Nifty June Future Open Interest Volume is at 25.2  lakh with addition of 0.40 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26408 closed below it
  • 27000 CE is having highest OI @8.3 Lakh resistance at 27000 followed 27500.26000-28000 CE liquidated0.01  lakh in OI so bears added  covered at higher level  still resistance in range of 27000-27300.


  • 25500 PE is having highest OI @7.6 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 0.56 lakh in OI so bulls having strong support in range of 26100-26200.


Buy above 26425 Tgt 26490,26555 and 26640 (Bank Nifty Spot Levels)

Sell below 26300 Tgt 26200,26070 and 26000 (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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