Bank Nifty breaks 19700 and does 19500 same day,EOD Analysis

By | October 26, 2016
  •  As discussed in Last analysis Till 19700 is held we can see move towards 20000/20400. Bearish only on close below 197000 for target of 19500/19200. Bank Nifty opened gap down made high of 19725 and bears became active below 19700 and did target of 19500 and close below 19500 suggesting we can move towards 19300/19000.  We have been discussing the effect of 25 Oct Time Analysis, Nifty is down 400 point from the high formed on 25 Oct.    Why Do Traders Lose? Part-I

bank-nifty-breakdown

  • Bank Nifty Oct Future Open Interest Volume is at 11.9 lakh with liquidation of 5 lakh, with rise in Cost of Carry suggesting short positions were added today. Bank nifty closed above Rollover cost 19803 expect another impulsive in next 2 days. Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @10.5 Lakh resistance at 20000. 19000-21000 CE saw addition of 6 lakh in OI so bears added aggressively in 19700-20000 CE as 19700 will be line of resistance for Bulls for expiry day.
  • 19000 PE is having highest OI @10.5 Lakh, strong support at 19000 followed by 19300, Bulls liquidated 7 Lakh in OI in 18500-20500 PE  bulls ran for cover  19500-19700 PE.

Buy above 19550 Tgt 19660,19725 and 19840 (Bank Nifty Spot Levels)

Sell below 19430 Tgt 19250,19150 and 19078 (Bank Nifty Spot Levels)

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8 thoughts on “Bank Nifty breaks 19700 and does 19500 same day,EOD Analysis

  1. kishore

    Bramesh Sir , As said , a 50 point Stoploss must for banknifty and 20 points for nifty as per you . Are these stoploss levels applicable when you take an Option position or a future position ?

    If its for Options, then what is stoploss (points ) level applicable for futures and viceversa

  2. pratheesh

    bramesh,
    plz check the levels..some typo errror occured

  3. KT

    Dear Brameshji,

    BankNifty Levels given for trading for tomoro r same as they had been given in last analysis.

    Sir, kindly look into it so that itraders like us can update our Bank Nifty Levels.

    Once again Thanks Sir for your analysis.

  4. Havina

    Are u sure sell below 19700?since bn already gave a closing below 19500 today

  5. rao

    sir,by mistake u have written the buy above and sell below levels of 25th Oct EOD,pl correct and write the levels of 26 Oct EOD

  6. Yogesh

    Bank Nifty Futures Trend Deciding level is 19568, So we should sell below 19500

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