Bank Nifty reacts from Supply zone, EOD Analysis for 07 Oct

  • As disused  in Yesterday Analysis  Now 17819/17831 needs to be observed closely as its gann trendline resistance as shown in 2 chart,  crossing the same we can see move back to 18200 unable to close above 17831 can see pullback to 17400/17200 in coming days. High made today was 17827 and low made 17493, as Bank nifty respected the demand and supply area,Any break below todays low can see bank nifty moving towards 17201/16900 in short term and closing above 17831 we can move towards 18000/18100 in short term.

Supply Demand

Nifty Gunner


  • Bank Nifty October Future Open Interest Volume is at 23.3 lakh with liquidation of 1.3 Lakh with increase in CoC suggesting short position were closed today. Rollover cost @17334, and bank nifty closed above it.
  • 18000  CE  OI at 4.7  lakh with addition of 0.38 lakh suggesting , wall of resistance @ 18000 getting weaker .17500 CE liquidated 0.19 lakh so bears started liquidating on partial basis as today also we made know of 17493. 17000-18000 CE added 0.26 Lakh in OI suggesting bulls are in control
  • 17000 PE OI@ 5.3 lakhs  strong base @ 17000 at start of series.  16500/17000 PE  liquidated 0.04  lakh so no follow up move was seen by bulls. 16000/17000 PE liquidated 0.14 lakh


Buy above 17650 Tgt 17750,17827 and 17975 (Bank Nifty Spot Levels)

Sell below 17450Tgt 17320,17200 and 17120 (Bank Nifty Spot Levels)


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