Bank Nifty unable to close above supply zone,EOD Analysis

  • Bank Nifty formed an inside day pattern today as was unable to break the Friday High and low and again closed  just below the demand zone of 17368 as we have discussed in last analysis.  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. What to Include in Successful Trading Plan


Daily Gunner


  • Bank Nifty November Future Open Interest Volume is at 20.7  lakh with addition of 0.22 Lakh with increase in CoC suggesting short position were closed today. Rollover cost  of Bank nifty is @ 17782
  • 18000 CE is having highest OI @4.1  Lakh strong resistance formation @18000. 17500 CE added 0.2 lakh so bears forming wall @ 17500 as nifty was unable to close above 17368 demand zone. 17500-18500 CE added 1.3 Lakh in OI.
  • 17000 PE is having highest OI @2.9 lakh strong base @17000 followed by 16500. 16500/17500 PE added 1.03 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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  1. Bramesh said:

    Please read and understand

    Do not jump your gun without having proper knowledge on particular strategy .

    Friday and MOnday BNF has given short signal and gave more than 120 points a “DISCIPLINED” trader would have part booked and moved SL to cost which got eventually hit.

    Read Understand paper trade develop confidence and than trade with “DISCIPLINE”

    November 3, 2015

    BNF trend change level change , it came down . 17384 to 17340. How you decide this level because till yesterday people might be short based on 17384 level. Now i see same people now on other side suddenly. even 50 points sl with hit if bnf hit 17390. how you decide this level ? do you have any data ? what makes TC change now to lower side ?

    November 3, 2015

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