Bank Nifty retest breakout level,EOD Analysis

  • Bank Nifty after giving breakout above 17850 failed to move above Friday high of 17947 made a high in opening at 17954 and came down, suggesting  no follow up move was seen. Today move can be seen as consolidation after big rise seen on Friday, It will be termed as failed breakout once it closed below 17827, (low formed today was 17817 and bounced back), and the gann line as shown in the below chart. Above 17950 Bank nifty can move towards 18050/18144 and below 17800 back to 17632/17500 .  To be Champion Trader Think Like them

Weekly Gunner


  • Bank Nifty October Future Open Interest Volume is at 24.5  lakh with addition of 0.44 Lakh with decrease in CoC suggesting short  position were added today. Rollover cost @17334, and bank nifty closed above it but near rollover price.
  • 18500  CE  OI at 7.6  lakh with addition of 0.12  lakh suggesting , wall of resistance @ 18500 .17500 CE liquidated 0.17 lakh and 18000 CE liquidated 0.34  so bears liquidated positions in 17500 and 18000 CE. 17000-18000 CE liquidated 0.63 Lakh, so Bears continued with liquidation even though bank nifty closed in red.
  • 17000 PE OI@ 7 lakhs  strong base @ 17000.  17500 PE  added 0.81  lakh so bulls wrote aggressively indicating  bank nifty has strong support at 17500. 16500/17500 PE added 0.67 lakh so bulls continue to add.

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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  1. Hemant K. Kulkarni said:

    Your views on bnf target of 20200?

    October 20, 2015
  2. Bramesh said:

    Dear Dipak,

    We have different kind of readers on site, few trades on Daily, few on Weekly and few trades intraday. So we give analysis on diffrent time frame and each time frame has different trading system and different trading levels are generated.

    As a trader first thing you need to decide is which time frame should i trade on, Once you decide follow that system only if you have limited funds.

    Hope it clarifies your doubt.


    October 20, 2015
  3. amit said:

    Dipak, daily or weekly levels are short term trading levels. Positional is longer term, could mean different things to different people. But surely weekly is not positional.

    October 20, 2015
  4. dipak said:

    Dear Ramesh,

    I have some confusion need your help to understand.

    Bank nifty weekly analysis : Trend Deciding level 17950
    for today BNF trend change level (Positional ) 17557

    Can you tell what is the difference of weekly level & positional level . As i read above two data ( considering future & spot price have little difference), I am confuse between positional & weekly Trend deciding level. request you to give more detail on positional trend change level.

    thank in advance

    October 20, 2015

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