Bank Nifty gives breakout,EOD Analysis for 06 Oct

By | October 5, 2015
  • As disused  in Weekly Analysis , Bank Nifty ready for big move,  gann date of 05 Oct also showed effect  and bank nifty jumped 500 points and just closed above the ,Breakout area 17652.  Now 17819/17831 needs to be observed closely as its gann trendline resistance as shown in 2 chart,  crossing the same we can see move back to 18200 unable to close above 17831 can see pullback to 17400/17200 in coming days.How to Survive a Trading Loss ?

Support

Daily Gunner

  • Bank Nifty October Future Open Interest Volume is at 24.6  lakh with liquidation of 0.98 Lakh with decrease in CoC suggesting long position were closed today. Rollover cost @17334, and finally we closed above it and saw big move.
  • 18000  CE  OI at 4.3  lakh with liquidation of 1.7 lakh suggesting  , wall of resistance @ 18000 getting weaker .17500 CE liquidated 0.6 lakh so bears started liquidating on partial basis as we closed above 17500. 17000-18000 CE liquidated 2.77 Lakh in OI suggesting bulls are in control
  • 17000 PE OI@ 5.3lakhs  strong base @ 17000 at start of series.  16500/17000 PE  liquidated 1.96  lakh so we got the  follow up as PE were shorted at lower levels. 16000/17000 PE added 2.33 lakh

Buy above 17800 Tgt 17900,18020 and 18132 (Bank Nifty Spot Levels)

Sell below 17550Tgt 17460,17370 and 17200 (Bank Nifty Spot Levels)

Levels mentioned are Bank Nifty Spot Levels

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6 thoughts on “Bank Nifty gives breakout,EOD Analysis for 06 Oct

  1. pradip shah

    TO DAY I DONT FIND WEEKLY VIEW IN WHICH YOU ALWAYS GIVE TECHINICAL RANGE AND ASTRO VIEW..SO KEEP CONTINUE THIS AS USUAL

  2. ashwani

    i was your post first time, its really cool. i want more of it.

  3. ANAND

    Bramesh , please mention it as BankNifty instead of Nifty as it may confuse sometimes in Buy above/Sell below levels

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