Bank Nifty does a weekly close above 19000,EOD Analysis

By | October 15, 2016 9:59 am
  •  As discussed in Last analysis  Any close below 18750 can see fast move towards 18440-18314 as seen in below gann angle chart. As we have weekly closing tomorrow Bulls will try hard to close above 19000 and bears below 18750. Bulls were finally able to close above 19000 and also protected 18750 in the process as price was unable to break yesterday low, BUlls can see upmove till 19318 holding low of Thursday. Momentum will come on close above 19318 for move till 19501/19732. Bears will be active only on close below 18750.  Deliberate practice & 10 Years of Silence will set you “apart”


  • Bank Nifty Oct Future Open Interest Volume is at 23.4  lakh with liquidation of .49 lakh, with rise in Cost of Carry suggesting short positions were closed today. Bank nifty closed below Rollover cost 19803 saw almost 1000 point correction  Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @10.1 Lakh resistance at 20000. 19000-21000 CE saw no addition in OI so bears did no addition today.
  • 18500 PE is having highest OI @10.1 Lakh, strong support at 18500 followed by 19000, Bulls added 2 Lakh in OI in 18500-20500 PE  bulls added aggresively in 18500-19000 PE.

Buy above 19050 Tgt 19150,19220 and 19320 (Bank Nifty Spot Levels)

Sell below 18940 Tgt 18870,18800 and 18650 (Bank Nifty Spot Levels)

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