Bank Nifty continue to trade above 19000, EOD Analysis

  •  As discussed in Last analysis   Bulls were finally able to close above 19000 and also protected 18750 in the process as price was unable to break yesterday low, Bulls can see up move till 19318 holding low of Thursday. Momentum will come on close above 19318 for move till 19501/19732. Bears will be active only on close below 18750. Bank Nifty gave follow up move on closing above 19000 but failed to do 19318 high made was 19241. Till we are holding 19000 we can see move till 19318, momentum will come on close above 19318 for move till 19501/19732, Bears will get active below 19000 for a move till 18750.  Why Trading is a mental game


  • Bank Nifty Oct Future Open Interest Volume is at 21.4  lakh with liquidation of 2 lakh, with fall in Cost of Carry suggesting long positions were closed today. Bank nifty closed below Rollover cost 19803 saw almost 1000 point correction  Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @10.4 Lakh resistance at 20000. 19000-21000 CE saw addition of 3.52 lakh in OI so bears added aggressively 19300-19400.
  • 18500 PE is having highest OI @10.2 Lakh, strong support at 18500 followed by 19000, Bulls added 1.3 Lakh in OI in 18500-20500 PE  bulls added aggressively in 19000 PE.

Buy above 19110 Tgt 19200,19350 and 19450 (Bank Nifty Spot Levels)

Sell below 18940 Tgt 18870,18800 and 18750 (Bank Nifty Spot Levels)

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