Bank Nifty Trade Set up for 19 March

By | March 19, 2020 12:35 am
  • As discussed in last analysis  Now we are near 21952 holding the same we can see bounce back towards 22345/22700/23000. Bears will get active below 21952 for a move back to 21500/21000. All Bearish target done below Gann number of 21952. Another gap down open will be seen and bears should can see fall towards 19683/19360 another important gann numbers once we start trading below 20000. Bulls will get active above 20300 fora move towards 20600/21000.

  • Bank Nifty March Future Open Interest Volume is at 12.4 lakh with addition of 1 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @30428 closed below it.
  • 21000 CE is having highest OI @18  Lakh resistance at 21000  followed 21500.20000-23000 CE added 25  Lakh in OI so bears added position in the zone of 21000-21500.
  • 20000 PE is having highest OI @8 Lakh, strong support at 20000 followed by 19500.19000-21000 PE added 11 Lakh OI so bulls making support in the range of 19000-19500.

Buy above 20666 Tgt 20800,21100 and  21400  (Bank Nifty Spot Levels)

Sell below 20000 Tgt 19700,19300 and 19000  (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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