Bank Nifty gives breakout,EOD Analysis

  • As we have been discussing in past few analysis 17850 is breakout area for 18050/18144 and 17350 is breakdown area for 17177/17000, In between its pure consolidation mode.  As seen in below 2 charts which shows Breakout given by Bank nifty now we need to observe price actio near 18050 and 18144 for further clues about the current move.  Motivational: Don’t Lie to Yourself

BANKNIFTY - Pyrapoint



  • Bank Nifty October Future Open Interest Volume is at 24  lakh with addition of 0.62 Lakh with increase in CoC suggesting long  position were added today. Rollover cost @17334, and bank nifty closed above it but near rollover price.
  • 18500  CE  OI at 7.5  lakh with liquidation of 0.42  lakh suggesting , wall of resistance @ 18500 .17500 CE liquidated 0.03 lakh so bears liquidated positions in 17500 CE. 17000-18000 CE liquidated 0.55  Lakh, so Bears liquidated position which were added yesterday.
  • 17000 PE OI@ 6.9 lakhs  strong base @ 17000.  16500/17000 PE  added 1.54  lakh so bulls wrote aggresilvely indicating  bank nifty can cross 18000. 16500/17500 PE added 1.84 lakh aggresive addition seen by bulls .


Buy above 17950 Tgt 18040,18140 and 18300 (Bank Nifty Spot Levels)

Sell below 17800 Tgt 17700,17580 and 17450 (Bank Nifty Spot Levels)


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One Comment

  1. K.Ravindranath said:

    please write an article how to identify swing lows and swing highs in intraday short term,intermediate,long term how it works

    October 18, 2015

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