Bank Nifty pause in uptrend,EOD Analysis

  • As discussed in Last analysis  Bank Nifty almost did the Wolf Wave pattern as we discussed, Now range of 20600-20675  is very cruical as this is next important gann level to be watched before heading towards all time high. Bears will get active below 20100 only. High made today was 20575, but close below 20491. Bulls need a close above 20491 and also close above 20675 for a next move towards the all time high. Bears have chance only below 19990.   Solution for Not able to pull the trigger in Trading


  • Bank Nifty Sep Future Open Interest Volume is at 29 lakh with liquidation of 0.52 lakh, with rise in Cost of Carry suggesting short positions were closed today. Bank nifty closed above Rollover cost ,rallied 1000 points.  Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @6.3 bears not covering major shorts eventhough bank nifty closed way above 20000 . 18500-20500 CE saw 0.47  lakh liquidation in OI so bears running for cover in 20000-21000 CE.
  • 19000 PE is having highest OI @7.8 Lakh, strong support at 19000 followed by 19500, Bulls added 3.3 Lakh in OI in 18500-20500 PE  so bulls making support in zone of 19600-19800 zone.

Buy above 20460 Tgt 20520,20580 and 20650(Bank Nifty Spot Levels)

Sell below 20370 Tgt 20300,20250 and 20150 (Bank Nifty Spot Levels)

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One Comment

  1. Shiva said:

    Very good analysis as always from you…..:)
    I had a clarification regarding FIIs Buy and Sell details.
    Is it possible to know FIIs derivative details related to BankNifty in any of the NSE reports.

    September 8, 2016

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