Bank Nifty reacts for supply zone,EOD Analysis

  • As discussed in last analysis    Also Weekly Analysis  Black Swan harmonic pattern which got completed at 13810 and we saw the expected rally above 14150.We need to close above 14524 for next move towards 14745/14965. Bank Nifty made high of 14600 and saw immediate selling pressure and closed just above 14150, till we close above 14150 we can see move till 14524/14745. Below 14150 we can see move back till 13971/13810.  What Constitutes 80% Of Trading

Daily Harmonic

  • Bank Nifty February Future Open Interest Volume is at 23.3 lakh with no change in OI with decrease in Cost of Carry suggesting long 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  Lakh strong resistance formation @15500. 14500 CE saw 0.55  Lakh addition as bears again added as Bank Nifty was unable to close above 14500 .14000-15000 CE added 2.78 Lakh in aggressive addition was seen by bears.
  • 13500 PE is having highest OI @3.9 lakh, strong support at 13500, Bears added aggressively in 14000 PE.13500-15500 PE saw 0.33  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 14000,14900 and 13830 (Bank Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates


  1. Devinder Singh said:

    Thanks Sir. Very valuable advice.

    February 17, 2016
  2. Bramesh said:

    Rule is SL gets triggered 2 times a day Stop trading immediately and wait for next day to take trade…Protection of capital is first goal as trader. VIX is trading at 22+ which signify we are in volatile market.So make sure you do not get emotional for a trade and keep trading and losing your capital

    February 17, 2016
  3. Devinder Singh said:

    Sir ,

    Plz guide if the market moves both sides hitting SL of both Buy & Sell side … In such scenario how shud we trade intraday. Like today mkt was in 7120 – 7140 spot range for a long time. After that 7100 it broke down.

    February 17, 2016
  4. Aditya said:

    Thanks Sir

    February 16, 2016
  5. Bramesh said:

    I always keep SL in system and keep price sl only

    February 16, 2016
  6. Aditya said:


    Can you please share your views on whether keeping time stop-loss is important as the stock move in other direction if the stock is not moving for 30 min or so.

    February 16, 2016

Leave a Reply