Bank Nifty fall from gann angle resistance zone

By | April 1, 2019 8:03 pm
  • As Discussed in Last Analysis Today’s High and low will be very important break on any side can give move of 200-300 points easily, As discussed in video posted yesterday current cycle we can see rise till 30700 and aggressive traders should use  rise till 30588 to short with SL of 30700, High made was 30648 and we corrected all the way till 30218 and our intraday time cycle at 2:18 worked perfectly. Long above 30450 for a move back to 30577/30650/30816. Bearish below 30210for a move towards 30100/29969.

  • Bank Nifty April Future Open Interest Volume is at 20.1 lakh with liquidation of 0.54  Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29967.
  • 30500 CE is having highest OI @3 Lakh resistance at 30500 followed 30800.  29000-31000 CE liquidated 0.85 Lakh in OI so bears covered in the zone of 30500-30800
  • 29500 PE is having highest OI @2.5 Lakh, strong support at 30000 followed by 29800.29000-31000 PE added 0.23 Lakh OI so bulls making strong support in the range of 29800-30000.

Buy above 30400  Tgt 30500 ,30640 and  30810 (Bank Nifty Spot Levels)

Sell below 30295 Tgt 30210,30125 and 30000 (Bank Nifty Spot Levels)

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