Bank Nifty Back to Gann Angle Resistance

As discussed in Last Analysis All Bullish targets done and we saw the combo effect of gann and astro dates of Mercury and Rahu as discussed in below video and now bank nifty bulls need to hold 36156-36200 range for rally to continue towards 36481/36864/37007. Bears have there chance below 36171 for a move back to 36017/35923/35828/35733/35639. Low made was 36216 so bulls managed to hold 36200 and did 1 target on upside. Now For rally to continue till 36666/36864/37017 bulls need to hold 36241. Bears will have chance below 36200 for a quick move towards 36076/35981/35886/35792.We are back to gann angle resistance as shown in below chart for where we have corrected last time watch out for 36241 next few sessions.

Intraday time for reversal can be at 9:15/10:36/11:49/12:59/1:32/2:04/2:43 How to Find and Trade Intraday Reversal Times

Bank Nifty Rollover cost @35609 closed above it. 36019 gone aand we are up 1000 points up in a two trading sessions.
Bank Nifty Sep Future Open Interest Volume is at 18 lakh with addition of 0.83 Lakh, with decrease in Cost of Carry suggesting SHORT positions were added today.

Bank Nifty underperformed big time today with Private banks underperforming as AU bank spoiled the sentiments for the banking stocks.

There is total OI of 16.9 Lakh on the Call side and 18.8 Lakh on the Put side. So, the activity is more on the PUT side, indicating Option Writers are having Bullish Bias.

The Option Table data indicates decent support at 36000 and reasonable resistance at 36500 followed by 36800.

For Positional Traders Stay long till we are holding Trend Change Level 36506 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 36039 will act as a Intraday Trend Change Level.

Buy Above 36502 Tgt 36597, 36693and 36789 (Bank Nifty Spot Levels)