Bank Nifty Analysis for 25 Nov

By | November 24, 2020 8:32 pm
  • As Discussed in Last Analysis Today was an important Astro Date and Gann Date as discussed in below video suggesting today High and low will be important for next 500-750 points move in BankNifty. Bulls need to break 29088 for a move back to 29232/29376/29520/29664.We got the 700 points move as per our expecatation now we are near a crucial gann number of 29791, another 500-750 points move will be seen above or below this number.  Bulls need to move above 29800 for a move back to 29929/30103/30276/30451. Bears below 29584 for a move back to 29413/29241/29071/28900.

  • Bank Nifty Nov Future Open Interest Volume is at 12.3 lakh with liquidation of 1.9 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24264 closed above it.
  • 30000 CE is having highest OI @22 Lakh resistance at 30000 followed 30200.29000-31000 CE added 2.1 Lakh in OI so bears added position in the zone of 30000-30500
  • 29000 PE is having highest OI @13.1 Lakh, strong support at 29300 followed by 29000.28000-29000 PE added 22 Lakh OI so bulls making support in the range of 29000-29300.

Buy Above 29781 Tgt 29929,30103 and 30276 (Bank Nifty Spot Levels)

Sell Below 29660 Tgt 29517,29400 and 29250 (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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