Bank Nifty EOD Analysis for 10 Oct

By | October 9, 2018
  • As Discussed in Last Analysis  Low made today was 24240 so bulls protected 24100 and did almost 2 target on upside. Bulls now need to protect 24510 for the rally to continue towards 24900/25050. Fresh longs above 24768 for a move towards 24912/25050. Bearish below 24500 for a move back to 24250/24050/23900. High made was 24759 so bulls unable to break 24768 and also able to close above 24510. Today high and low are very important as per time analysis and break of any side can easily give 150-200 points.Long above 24768 for a move towards 24912/25050. Bearish below 24460 for a move back to 24336/24192/24048. Important intraday time for reversal can be at 9:31/1:09. Understanding Stock Market Crash

 

 

  • Bank Nifty Oct Future Open Interest Volume is at 13.3 lakh with liquidation of 1.3 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25319 closed above it.
  • 25000 CE is having highest OI @5.7 Lakh resistance at 24800  followed 25000.  24000-26000 CE liquidated 0.20 Lakh in OI so bears covered in range 24400-24600 CE , still making  strong resistance of 24900-24000.

 

  • 24500 PE is having highest OI @5.7 Lakh, strong support at 24200 followed by 24000.24000-26000 PE liquidated 0.32 lakh OI so bulls making attempt to make base around 24400-24500.

 

 

Buy above 24590 Tgt 24649,24777 and 24879 (Bank Nifty Spot Levels)

Sell below 24460 Tgt 24400,24320 and 24100 (Bank Nifty Spot Levels)

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