Bank Nifty Oct Expiry Analysis

• As Discussed in Last Analysis  Bears need to break 24920 for fresh down move to happen towards 24784/24656/24500. Bullish above 25200 for a move back to 25344/25488. Bank Nifty opened with gap up and again traded in volatile range. We updated analysis on twitter and it worked in the range. As we have expiry tomorrow Bullish above 25125 for a move back to 25225.25344/25488. Bears need to break 25000 for fresh down move to happen towards 24920/24784/24656/24500.  Important intraday time for reversal can be at 10:77/12:20/2:55. DivA Software for Fundamental Analysis for All Companies of BSE and NSE

 

• Bank Nifty Nov Future Open Interest Volume is at 9.9 lakh with addition of 3.7Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25319 closed above it.
  

• 25500 CE is having highest OI @11.6 Lakh resistance at 25300  followed 25500.  24000-27000 CE added 5.6  Lakh in OI so bears added in range 25500-26000 CE.

• 24500 PE is having highest OI @6.4Lakh, strong support at 24800 followed by 24500.24000-26000 PE added 3.7 lakh OI so bulls making support at 24800-25000 range.
  

 

• Bank Nifty Futures Trend Deciding level is 25098 For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25104  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

 

Buy above 25100 Tgt 25225,25333 and 25450 (Bank Nifty Spot Levels)

Sell below 25000 Tgt 24920,24810 and 24720 (Bank Nifty Spot Levels)