Bank Nifty near demand zone,EOD Analysis for 09 Oct

  • As disused  in Yesterday Analysis   Break of 17490 can see bank nifty moving towards 17366/17133 and break above 17830 can see quick move towards 18000, Bank Nifty made low of 17401 near supply are and bounced back to close around 17474, Weekly closing tomorrow Bulls will try to close above 17589 and bears below 17334 . Worst enemy of trader?


  • Bank Nifty October Future Open Interest Volume is at 22.5  lakh with liquidation of 1.11  Lakh with increase in CoC suggesting long  position were closed today. Rollover cost @17334, and bank nifty closed above it but near rollover price.
  • 18000  CE  OI at 5.1  lakh with addition of 0.69  lakh suggesting , wall of resistance @ 18000 .17500 CE added 0.10 lakh so bears added on partial basis and bank nifty closed below 17500. 17000-18000 CE added 0.73 Lakh in OI suggesting bulls are losing ground.
  • 17000 PE OI@ 6.3 lakhs  strong base @ 17000.  16500/17000 PE  added 0.59 lakh so bulls continue adding when bank nifty closed below 17500. 16000/17000 PE added 0.37 lakh aggressive addition by bulls seen today at 17500 PE,  17500 will paly crucial role tomorrow.


Buy above 17510 Tgt 17580,17645 and 17721(Bank Nifty Spot Levels)

Sell below 17350 Tgt 17280,17160 and 17000 (Bank Nifty Spot Levels)


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One Comment

  1. Sandy said:

    Hamarey Baalu ko bhi chance milna chahiye Sir ji 🙂

    October 8, 2015

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