Bank Nifty near support zone,EOD Analysis

  • As discussed in last analysis Support comes @17732 and 17650. Resistance at 17950/18044. Bank Nifty opened gap down at 17738 near support zone and showed the bounce back. Bank nifty again closed above the rising  trendline which shows possiblity to move towards 17950/18044, Any close below the trendline bank nifty can move towards 17652 and 17434 support as shown in below chart. Do you want to be The “Perfectionist” in trading ?


Weekly Gunner


  • Bank Nifty October Future Open Interest Volume is at 16.5  lakh with liquidation of 2.7 Lakh with increase in CoC suggesting short  position were closed today. Rollover of Bank nifty is @ 17923.
  • 18500  CE  OI at 7.2  lakh with liquidation of 0.74  lakh suggesting , wall of resistance @ 18500 .17800 CE added 0.29 lakh and 18000 CE liquidated 0.08  lakh so bears again building position on 18000 CE as Bank Nifty close below 17850. 17000-18000 CE added 0.09 Lakh, so no addition seen by Bears.
  • 17000 PE OI@ 5.6  lakhs  strong base @ 17000.  17500 PE liquidated 0.07  lakh so no addition was seen by bulls and no major addition was seen  bank nifty closed in green. 16500/17500 PE liquidated  0.51  lakh so bulls using rise to liquidated position.

Buy above 17900 Tgt 17960,18040 and 18111 (Bank Nifty Spot Levels)

Sell below 17800 Tgt 17740,17650 and 17500 (Bank Nifty Spot Levels)

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