Bank Nifty Bulls another failed attempt at 24270,EOD Analysis

By | October 9, 2017 6:17 pm
  • As discussed in Last Analysis   Low made was 24074 and high made was 24242 so the range of 23963-24270 is still maintained. Bullish above 24270 for a move till 24358/24510/24700. Bearish below 23960 for a fall till 23800/23650.Price again bounced from the lower end of gann angle but still unable to break the range. Trade the range buy low sell high with SL till range breaks. Bank Nifty bulls were able to break the range on upside above 24270 but failed to close above it thus whipsawing traders. 10-11 Oct are important trend change dates so hopefully we can finally get a breakout/breakdown from this range. Bullish above 24270 for a move till 24358/24510/24700. Bearish below 23960 for a fall till 23800/23650. How Your Brain Stops You From Being A Trader

  • Bank Nifty Oct Future Open Interest Volume is at 21.6 lakh with addition of 0.38 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24098 closed above it.


  • 24500 CE is having highest OI @7.1 Lakh resistance at 24500 followed 24300.23500-25500 liquidated 0.77 lakh in OI so bears losing over the range of 24300-24500.


  • 24000 PE is having highest OI @8.1 Lakh, strong support at 23800 followed by 24000.23500-25500 added 3.7 lakh in OI so bears making support in range of 23900-24000.


Buy above 24270 Tgt 24320,24400 and 24476 (Bank Nifty Spot Levels)

Sell below 24160 Tgt 24090,24010 and 23920 (Bank Nifty Spot Levels)

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Category: Bank Nifty Time Cycle

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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