Bank Nifty forms Inside day pattern,EOD Analysis

  • Bank Nifty from past 2 session unable to close above the supply area of 17250 and closing below it from past 2 trading session also Till its not crossed probability of bank nifty moving to 16700/800 exists,Breakout only on closed above 17652. Secrets of Profitable Traders Part-II



  • Bank Nifty October Future Open Interest Volume is at 25.6  lakh with liquidation of 0.42 Lakh with decrease in CoC suggesting long position were closed today. Rollover cost @17334, still unable to close above rollover cost.
  • 18000  CE  OI at 6  lakh , wall of resistance @ 18000 .17500 CE liquidated 0.07 K lakh so bears started liquidating on partial basis@17500 and will be difficult to cross, high made today was 17390. 17000-18000 CE added 0.54 Lakh in OI
  • 17000 PE OI@ 4.4 lakhs  strong base @ 17000 at start of series.  16500/17000 PE  liquidated 0.03  lakh so did not do any follow up from day before tomorrow addition of 1.2 lakh. If 17000 is broken and sustained we can see move towards 16500, today again 17000 was protected on closing basis.

Buy above 17230 Tgt 17320,17400 and 17490 (Nifty Spot Levels)

Sell below 17040 Tgt 16950,16800 and 16710 (Nifty Spot Levels)

Levels mentioned are Bank Nifty Spot Levels

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4 thoughts on “Bank Nifty forms Inside day pattern,EOD Analysis”

  1. Sir,

    An Inside day pattern near a strong resistance zone mean that BN will correct here?

    Thanks and regards,

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