Bank Nifty forming last leg of BAT pattern,EOD Analysis

  • As discussed in last analysis   Below 14150 we can see move back till 13971/13810. Low made today was 13892, Todays low is very important as it completed the 3 leg of BAT pattern and now holding the same we are heading towards the final leg of BAT pattern which comes near 14953/15181. Also Black Swan Harmonic pattern will again get activated above 14251 for target of 14524/14724. Break of 13810 will invalidate both the patterns.  The Training of a stock trader


Daily Harmonic

  • Bank Nifty February Future Open Interest Volume is at 22.8 lakh with liquidation of 0.5 with increase in Cost of Carry suggesting short positions were closed today .Bank Nifty  again gave 1500 points move below rollover cost @ 15441. How To Identify Market Tops and Bottom
  • 15000 CE is having highest OI @8.1  Lakh strong resistance formation @15000. 14500 CE saw 0.99  Lakh addition as bears again added as Bank Nifty was unable to close above 14251 .14000-15000 CE added 3.9 Lakh in aggressive addition was seen by bears.
  • 13500 PE is having highest OI @4.4 lakh, strong support at 13500, Bears added aggressively in 14000 PE.13500-14500 PE saw 1.8  lakh addition suggesting  so bulls did not lose hope and expecting a bounceback

Buy above 14240 Tgt 14300,14450 and 14550 (Bank Nifty Spot Levels)

Sell below 14130 Tgt 14000,13900 and 13830 (Bank Nifty Spot Levels)

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  1. Bramesh said:


    February 18, 2016
  2. Vikas said:

    Trend Deciding Level 14831 seems to be wrong for intraday traders

    February 18, 2016
  3. Gopal said:

    Hello Bramesh, There is a typo here please correct last line….Sell below 14130 tgt 14000, 14900(it should be 13900). Thanks Gopal

    February 18, 2016

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