Bank Nifty closes above 15136,EOD Analysis

  •  As discussed in last analysis   Green Arc resistance comes @15565 and the same is also coming as per supply demand analysis so bank nifty needs to close above 15136 for next move towards 15565, Support is now at 14700-14800 zone. Finally we closed above 15136 so follow up move should be see till 15136 is held on closing basis. Do remember overbought market can remain overbought for prolonged period of time, Just market is overbought does not mean go and short it. How to Maintain Trading Journal


BN Stalling on Demand Zone


  • Bank Nifty March Future Open Interest Volume is at 19.9 lakh with liquidation of 0.59 lakh  with decrease in Cost of Carry suggesting short positions were closed today. Bank Nifty able to close above  Rollover price @14115 and gave 1000 Points. How To Identify Market Tops and Bottom
  • 15500 CE is having highest OI @3.8 Lakh resistance formation @15000. 13500-15500 CE saw 3.4 lakh liquidation as bears ran for cover in 14500/15000 CE  bank nifty still closing above 14500.
  • 14500 PE is having highest OI @3.5 Lakh, strong support at 14500 followed by 14000, Bears added aggressively in 14000/14500 PE.14000-16000 PE saw 5.1 lakh addition so knock out punch delivered by bulls. Range for March Series comes @ 13000-15500.

Buy above 15260 Tgt 15330,15440 and 15555 (Bank Nifty Spot Levels)

Sell below 15100 Tgt 15050,14950 and 14850 (Bank Nifty Spot Levels)

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  1. Bramesh said:

    Bank Nifty is in Buy on Dips mode now till we do not close below 14800, Bank Nifty should move in zone of consolidation for few days before making the next move

    March 4, 2016
  2. Bramesh said:

    If it closed above 15500 than we can see range expansion as of now it remains the same.

    March 4, 2016
  3. Shankar said:


    You gave range for march series till 15500 and we are almost nearing the range. Any chances of range expansion?


    March 4, 2016
  4. Ritesh said:

    Sir 15000 ce is showing OI as 4.37 lacs…higher than 15500 ce And it was adding despite bank nifty trading above 15150… Plus today’s candle is a hanging man… Your thoughts

    March 3, 2016

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