Will Bank Nifty break 16350,EOD Analysis

  • As discussed in last analysis   As we have gann trendline also near 16500, so need to be extra cautious in coming week as if 16500 get broken we can see quick downfall till 16300-16250. Bullish only on close above 16792.  we need to see a follow up down move on Monday below 16431 for a fall till 16349/16200. Low made today was 16368 almost doing 16349, If we close below 16349 tommorw we can fall till 16000 till expiry, BUllish only on close above 16431.How trading brain Works ?


  • Bank Nifty May Future Open Interest Volume is at 15.7 lakh with liquidation of 0.83 lakh, with fall in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost is coming at 16860 closed below it. Do you know your Risk of Ruin in trading ?
  • 17000 CE is having highest OI @9.5 Lakh resistance formation @17500. 16000-18000 CE saw 4.5 lakh addition in OI so bears came back furiously as bank nifty closed above 16431.
  • 16000 PE is having highest OI @6.7 Lakh, strong support at 16000 followed by 16500, Bulls added 0.344  Lakh in OI in 16000-18000 PE as Bank nifty closed above 16350, so hopeful of bounce.

Buy above 16460 Tgt 16550,16620 and 16700 (Bank Nifty Spot Levels)

Sell below 16300 Tgt 16230,16100 and 16000 (Bank Nifty Spot Levels)

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