Bank Nifty EOD Analysis for 19-Oct

By | October 18, 2022 11:48 pm

As discussed in Last analysis 

I have explained the importance of today date and how to find it in below video. Today we have seen both Astro and Gann date combo and big rally in Bank Nifty. Tommrow till we are above 40000 Bulls have upper hand.

Bulls were able to do 1 target on upside ,Till we are holding 40140 bulls have upper hand. For Swing Traders Bulls will get active above 40333 for a move towards 40531/40729. Bears will get active below 40000 for a move towards 39820/39666/39450.

39613 is Gann 50% level which gann has give lot of importance. Break of 39613 we will see a fast rise towards 40170.Done , Now Holding 40170 heading towards 40726

Intraday time for reversal can be at 9:47/10:50/11:31/12:18/1:49/2:30  How to Find and Trade Intraday Reversal Times

Bank Nifty Oct Future Open Interest Volume is at 16.3 lakh with liquidation of 19 Lakh contract , with increase in Cost of Carry suggesting short positions were closed today.

Bank Nifty Rollover cost @ 38460 and Rollover is at 76.5 % Closed above it

Bank Nifty as per musical octave trading path can be  38243-39381-40518 take the side and ride the move !!

Maximum Call open interest of 38 lakh contracts was seen at 40200 strike, which will act as a crucial resistance level and Maximum PUT open interest of 42 lakh contracts was seen at 39000 strike, which will act as a crucial Support level.

MAX Pain is at 40000 and PCR @0.70 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Typical Trader do not accept risk Most traders do trading avoid risk by adding more indicators

For Positional Traders Trend Change Level is 39072 on Futures go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 40365 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 40323 Tgt 40456, 40593 and 40751 (Bank Nifty Spot Levels)

Sell Below 40280 Tgt 40160, 40040 and 39865 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty

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.

Leave a Reply