Bank Nifty reacts from zone of resistance,EOD Analysis

  •  As discussed in Last analysis  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 that 20000. Bank Nifty opened with gap up High made today was 19816 ner the gann line of resistance near zone of resistance bulls failed to close above 19732, Low made today was 19492 and  Bears were unable to break 19451.  Bear will get upperhand on close below 19451 for target of 19340/19020 and bulls above 19732.   The difference between winning and losing in trading


  • Bank Nifty Oct Future Open Interest Volume is at 19.6  lakh with addition of 0.26 lakh, with fall in Cost of Carry suggesting short positions were added today. Bank nifty closed below Rollover cost 19803  Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @8.4 Lakh resistance at 20000. 19000-21000 CE saw 3.1 lakh addition in OI so bears added aggressively in 20000-20500 CE.
  • 19500 PE is having highest OI @4.5 Lakh, strong support at 19500 followed by 19000, Bulls added 1.9 Lakh in OI in 18500-20500 PE  bulls held to 19500 level and added at lower range of 19000-19200 range.

Buy above 19650 Tgt 19730,19820 and 19940 (Bank Nifty Spot Levels)

Sell below 19480 Tgt 19420,19300 and 19150 (Bank Nifty Spot Levels)

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