Bank Nifty entering in Supply zone, EOD Analysis

  •  As discussed in Last analysis  Bulls need a close above 19451 for target of 19732/19811. Only on close above 19811 Bank nifty can move towards 20000/20212/20571. Any close below 19000 will see fast move towards 18800/18500. This can be the overview for the October series. Bulls broke 19451, did 19611 and now waiting for 19732. Range of 19650-19732 is very crucial range unable to cross them we can see another downmove towards 19451 and 19300, Close above 19732 can see fast move till 19811 and above than 20000. RBI Policy will be declared at 2:30 PM tomorrow.   Where learning ends, beginning of practice happens and that is transformation !!


  • Bank Nifty Oct Future Open Interest Volume is at 19  lakh with liquidation of 0.40 lakh, with fall in Cost of Carry suggesting long positions were closed today. Bank nifty closed below Rollover cost 19803  Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @6.6 resistance at 20000. 19000-21000 CE saw 2.12  lakh addition in OI so bears added aggressively in 20000-20500 CE.
  • 19500 PE is having highest OI @4.1 Lakh, strong support at 19500 followed by 19000, Bulls added 2.6 Lakh in OI in 18500-20500 PE  bulls held to 19500 level and added at lower range of 19000-19200 range.

Buy above 19620 Tgt 19680,19770 and 19920 (Bank Nifty Spot Levels)

Sell below 19500 Tgt 19430,19275 and 19100 (Bank Nifty Spot Levels)

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One Comment

  1. TomsVN said:

    Can you please comment on banknifty’s weekly options’ open interest also. Thanks.

    October 4, 2016

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