Bank Nifty crashes 400 points on Time Cycle Date,EOD Analysis

  • As Discussed in Last Analysis  We have completed the move from one gann angle to another, Also we have very important time cycle on 28 Oct so we can have a good move either tomorrow or on Monday.Bullish above 24920 for a move back to 25056/25200/25344. Bearish below 24768 for a move back to 24624/24480. Bank Nifty gave the big move as per our expectation and did all the target on downside. Now Bulls need to close above 24500 for a move back to 24656/24784/24920. Bearish below 24250 for a move back to 24100/23900. Important intraday time for reversal can be at 9:42/11:41/2:41. A bowl of noodles from a stranger

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 17.6 lakh with addition of 1.03 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25131 rollover %@ 77 closed below it.
  • 25500 CE is having highest OI @3.3 Lakh resistance at 25500  followed 26000.  24000-27000 CE added 0.95 Lakh in OI so bears added in range 25000-25500 CE.
  • 24500 PE is having highest OI @4.1 Lakh, strong support at 24000 followed by 23800.24000-26000 PE added 2.4  lakh OI so bulls making support at 24000-24200 range.

 

 

Buy above 24520 Tgt 24610,24711 and 24820 (Bank Nifty Spot Levels)

Sell below 24320 Tgt 24250,24100 and 23000 (Bank Nifty Spot Levels)

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1 thought on “Bank Nifty crashes 400 points on Time Cycle Date,EOD Analysis”

  1. spot bank recent low was 24244 so that will be retested .if its fail then next down to 23555 and 23001 downside targets .as per mm it is now at -2/8 th extreme overshoot daily 24218

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