Bank Nifty Bounce from Gann Angle Support

By | February 15, 2019 11:32 am
  • Sad and pained to hear about the dastardly attack on our brave CRPF men in Pulwama in which 44 our jawans have been martyred . I pray for a quick and speedy recovery of those injured in the attack.
  • As Discussed in Last Analysis  Bears will have upperhand till we are below 27000 and can move towards 26784/26666. Bulls will get active above 27000 for a move back to 27100/27225/27360. Low made today was 26818 and we saw a bounce back from gann angle as shown in below chart,Bulls will get active above 27000 for a move back to 27100/27225/27360. Bears will get active below 26800 for a move back to 26666/26500.

  • Bank Nifty Feb Future Open Interest Volume is at 14.5 lakh with liquidation of 1.9 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @26934 closed above it.
  • 27500 CE is having highest OI @5.5 Lakh resistance at 27300  followed 27500.  26000-28000 CE added 0.80 Lakh in OI so bears added position  in the zone of 27100-27300.
  • 27000 PE is having highest OI @6.6 Lakh, strong support at 26800 followed by 26500.26000-28000 PE liquidated 0.33 Lakh OI so bulls making strong support in the range of 26800-26600.

Buy above 27010 Tgt 27070,27150  and 27225 (Bank Nifty Spot Levels)

Sell below 26910  Tgt 26850,26750 and 26610 (Bank Nifty Spot Levels)

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