Bank Nifty closed below demand zone, EOD Analysis

By | October 30, 2015
  • As discussed in last analysis Tomorrow 17103/17025 support zone should be watched as holding the same we can see relief rally till 17350.  Bank Nifty made low of 17170 and bounced back towards 17399 and closed@ 17354  just below the demand zone of 17368.  Bulls needs to close above 17368 for a move till 17600. Gunner still suggests bears are in control till we do not close above the gann trendline. If not bank nifty will move towards 17000 odd levels. Bank Nifty lot size is changing from 25 to 30, For other lot size please click on this link , Joy of Giving

Daily Gunner

Support

 

  • Bank Nifty November Future Open Interest Volume is at 20.5  lakh with liquidation of 1.4 Lakh with decrease in CoC suggesting short position were closed today. Rollover cost  of Bank nifty is @ 17782
  • 18000 CE is having highest OI @3.6  Lakh strong resistance formation @18000. 17500 CE added 0.62 lakh so bears forming wall @ 17500. 17500-18500 CE added 3.14 Lakh in OI on first day of series.
  • 17000 PE is having highest OI @2.5 lakh strong base @17000 followed by 16500. 16500/17500 PE added 1.8 lakh not strong addition seen by bulls as compared to bears. Range of Bank Nifty at start of series is coming between 16500-17500.

Buy above 17400 Tgt 17450,17520 and 17660 (Bank Nifty Spot Levels)

Sell below 17300 Tgt 17220,17100 and 17000(Bank Nifty Spot Levels)

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10 thoughts on “Bank Nifty closed below demand zone, EOD Analysis

  1. Prasanna

    Dear Friends, I suggest you not to just go with his blog week by week. Join him for one to one training. He teaches extra ordinarily well. I have benefited by his training. There are concepts you hardly know or you think you have a good idea about, But when he explains them, you realize the potential.

  2. Bramesh Post author

    sure sir will try but due to shortage of time will try to cover them in daily analysis

  3. DIPAK CHANDWANI

    Dear MR Bramesh,

    Once again thanks for detail analysis. I have special request & see if you can include following stock analysis in advance because i missed ajanta pharma on friday as that stock was new to me . please give some weekend analysis for stock result due in week. Next week is heavy with all PSU bank result from monday to friday for OBC bank, Canara bank, PNB, BOB, SBI. i know you will cover these stock in your daily calls but if you give some weekly technical analysis for these stock like you give for nifty &Bank Nifty.

    I will prefer if you can give at least Canbank technical analysis as this stock shows really big movements & also currently at critical level

  4. RAJMOHAN

    I EARNED 30 PTS NET YESTERDAY. WHENEVER NIFTY CROSSES 15 PTS IN OUR FAVOUR i AM BRINGING SL NEARER TO POINT OF ENTRY TO REDUCE SL.

    WHEN NIFTY CROSSES 20 PTS IN OUR FAVOUR, I BOOK 50 % PROFIT AND BALANCE LOTS TO RIDE WITH THE FLOW MOVING SL AT POINT OF ENTRY.

    TRADING IS SIMPLE BUT NOT EASY.

    PL GO THRU’ Trading Rules of Professional Trader Published June 17, 2015 by Bramesh

    N B :- I KEEP ALL ARTICLES OF BRAMESHJI IN HARD COPIES IN A BOX FILE FOR REGULAR READING.

    PRANAM TO MASTERJI

  5. C VISHNU VARDHAN

    Sir, where can we get Trend Changer levels daily. I could not find the levels on the website as you mentioned. Please let me know where to get such levels. Thanks

  6. Bramesh Post author

    Hi Niraj ji and Rameshwarji,

    Please read the below link http://www.brameshtechanalysis.com/2013/09/nifty-futures-positional-strategy/

    to know how to trade as per TC levels.

    Yesterday Longs were triggered at 8170 which got stopped at 8150 keeping 20 point SL and than shorts were taken which rewarded traders with a 70 point MTM, part booking was done and now holding the remaining position with SL.

    Please backtest system with previous TC levels and “Develop the Trust” on trading system.

    Rgds,
    Bramesh

  7. niraj

    your analysis is too good. bu.t logically its confusing also, yesterdays trend changing level for nifty was 8165 it made high of 8182 and started falling. so sell is triggered again. like this happens many time if we follow tc level. as well we can not follow multiple factor and chart in market. because it make you more confuse. can you suggest one simple thing which can be followed with few basic rules for positional trading in nifty.

    thanks in advance for wonderful work.

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