Bank Nifty November Expiry Analysis

As discussed in last analysis Now Bulls need a close above 18721 for a move towards 19000/19300. Bears will get active only on close below 18250 for a move towards 18000/17800. Bank Nifty was unable to move above 18721 and bears unable to close below 18250,in between choppy move will continue, Close above 18721 can push bank nifty towards 18000/18300.

Bank Nifty Nov Future Open Interest Volume is at 20.4 lakh with liquidation of 3.9 lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty continued to trade below rollover price @19750 and corrected 400 points.

19000 CE is having highest OI @9 Lakh resistance at 19000. 18500-19000 CE saw addition of 5.7 lakh in OI so bears added aggressively in range of 18700/19000 CE.

18000 PE is having highest OI @9.2 Lakh, strong support at 18000 followed by 17500, Bulls added 6.1 Lakh in OI in 18000-18500 PE addition by bears in range of 18400/18500.

Bank Nifty Futures Trend Deciding level is 18547 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19283 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy above 18600 Tgt 18660,18720 and 18870 (Bank Nifty Spot Levels)

Sell below 18520 Tgt 18440,18350 and 18220 (Bank Nifty Spot Levels)

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7 thoughts on “Bank Nifty November Expiry Analysis”

rajesh November 24, 2016 3:50 pm

will bank nifty bounce bank tomorrow

Reply ↓

V K Sinha November 23, 2016 9:49 pm

Hi Bramesh Ji, I have also recently started to see your analysis on NIFTY & Banknifty and appreciate your work for very good analysis for the same & to motivate good traders…

Reply ↓

Bramesh Post authorNovember 24, 2016 8:37 am

Thanks a lot for your kind words

Reply ↓

FLORINA MATHEW November 23, 2016 8:49 pm

Hi Bramesh, I have recently started following your analysis on NIFTY and I am impressed by the same. Thank you for sharing your valuable knowledge with all of us. Btw there is no NIFTY analysis today just BankNifty.

Reply ↓

Bramesh Post authorNovember 23, 2016 8:53 pm

Thanks.. It will be updated in few mins..

Reply ↓

greenwireindian November 23, 2016 8:12 pm

Brahmesh there is a typo, “Close above 18721 can push bank nifty towards 18000/18300.” should be “towards 19000/19300”

Reply ↓

Bramesh Post authorNovember 23, 2016 8:12 pm

thanks its corrected..

Reply ↓

rajesh November 24, 2016 3:50 pm

will bank nifty bounce bank tomorrow

Reply ↓
V K Sinha November 23, 2016 9:49 pm

Hi Bramesh Ji, I have also recently started to see your analysis on NIFTY & Banknifty and appreciate your work for very good analysis for the same & to motivate good traders…

Reply ↓
1. Bramesh Post authorNovember 24, 2016 8:37 am
  
  Thanks a lot for your kind words
  
  Reply ↓
FLORINA MATHEW November 23, 2016 8:49 pm

Hi Bramesh, I have recently started following your analysis on NIFTY and I am impressed by the same. Thank you for sharing your valuable knowledge with all of us. Btw there is no NIFTY analysis today just BankNifty.

Reply ↓
1. Bramesh Post authorNovember 23, 2016 8:53 pm
  
  Thanks.. It will be updated in few mins..
  
  Reply ↓
greenwireindian November 23, 2016 8:12 pm

Brahmesh there is a typo, “Close above 18721 can push bank nifty towards 18000/18300.” should be “towards 19000/19300”

Reply ↓
1. Bramesh Post authorNovember 23, 2016 8:12 pm
  
  thanks its corrected..
  
  Reply ↓