Bank Nifty continue its uptrend with pause,EOD Analysis

By | October 17, 2017 6:16 am
  • As discussed in Last Analysis   We are up 800 points in 2 trading days showing the effect of time cycle and our scared number of 24476 as soon as it was broken big rally came and did all the targets on upside. Now till bulls are holding 24476 they will move towards 24912/25050/25200. Bearish below 24476 for a move towards 24300/24100. Bank Nifty made high of 24878 still not able to meet our target of 24912,hopefully should be done before Diwali, Close above 24928 will be big boosted for bulls and bank nifty will make new all time high as soon as we closed above 25200. Till we are holding 24500 all dips will be bought into, Word of Advise please do not short the market thinking it has gone to high, try to go with trend till it bend.  Are You a trader and a gambler

  • Bank Nifty Oct Future Open Interest Volume is at 21.4  lakh with liquidation of 1.4 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24098 closed above,bounced 700 points.


  • 25000 CE is having highest OI @6.8Lakh resistance at 25000 followed 25200.24000-26000 liquidated 1.3 lakh in OI so bears ran for cover as bank nifty continue to hold 24500.


  • 24500 PE is having highest OI @15.5 Lakh, strong support at 24500 followed by 24300.24000-26000 liquidated 4.9  lakh in OI so bulls booking profit in higher end of the range.


Buy above 24740 Tgt 24786,24875 and 24930 (Bank Nifty Spot Levels)

Sell below 24650 Tgt 24550,24476 and 24410 (Bank Nifty Spot Levels)

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Category: Daily

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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