Bank Nifty sees rollercoaster ride, EOD Analysis

  • As discussed in Last analysis Bulls need a close above 19928 to be back in the game for target of 20155, Any close above 20155 will take us towards 20576/20600 levels. Bears below 19700 can push bank nifty towards 19451. Bulls need a close above 19928 for a move towards 20155/20380. Bears will get active only below 19700 for target of 19451. It was a High volatile day, as Bank Nifty moved above 19928 at opening and than quickly did the target of 20155, High made today was 20227 but we saw a rapid fall also and again close was below 19928. Most of the traders were not able to book profit as they were all looking for the higher target, Thats why i always emphasize on partial profit booking, trailing SL which every trader needs to implement to protect capital and profit. Always remember main aim is to protect capital, profit will come eventually. High made today is very crucial as its at the second green arc and if not broken in next 2-3 trading session we can see break of 19730 which bulls have been holding. Bulls will again get active above 20000 for target of 20250/20500. Bears below 19700 for target 19450/19250.   EVERY SUCCESS STORY IS ALSO A STORY OF GREAT FAILURE
  • Bank Nifty Sep Future Open Interest Volume is at 22 lakh with liquidation of 0.50 lakh, with rise in Cost of Carry suggesting short positions were closed today. Bank nifty closed above Rollover cost ,rallied 1000 points before this correction.  Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @7.4 resistance at 20000. 18500-20500 CE saw .86  lakh liquidation in OI so bears are liquidation  in 20400/20500 CE.
  • 19000 PE is having highest OI @11.4 Lakh, strong support at 19000 followed by 19500, Bulls added 4.7 Lakh in OI in 18500-20500 PE  so bulls still holding on to support in zone of 19800-19900 zone.

Buy above 20000 Tgt 20085,20210 and 20350(Bank Nifty Spot Levels)

Sell below 19850 Tgt 19780,19700 and 19600 (Bank Nifty Spot Levels)

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  1. Bramesh said:

    Levels are correct…

    September 19, 2016
  2. Karthik said:

    Bramesh, it looks like bank nifty spot levels are same as previous post. Is it correct or missed to update?

    September 19, 2016
  3. Sudhakar said:

    I did it… Sir.
    I have Done profit booking at 20200

    and at the same time I brought PUTS as soon as I booked Profits at 20200.

    This is all Just because of your Training Ethics.

    September 17, 2016
  4. AJAYA KUMAR said:

    Sir,Next candle of BN is inside the double ring ,here BN will struggle any up move will be a great opportunity for shorting and inverse as narrow range day expected here .

    September 17, 2016
  5. Bramesh said:

    Thanks a lot

    September 17, 2016
  6. Atul said:

    Hi Bramesh, your views are well appreciated. thanks for guidance

    September 17, 2016

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