Bank Nifty EOD Analysis for 09 Oct

  • As Discussed in Last Analysis Bank Nifty did 25050 and post RBI as soon as 24600 is broken 24336 came in last 1 hour as cautioned yesterday, Now below 24100 we can see  fall towards 23904/23760/23616/23400/23040. 23000 can also come in this ongoing fall. Bullish above 24480 for a move back towards 24624/24768/24912. 08 Oct is an important trend change date. Low made today was 24240 so bulls protected 24100 and did almost 2 target on upside. Bulls now need to protect 24510 for the rally to continue towards 24900/25050. Fresh longs above 24768 for a move towards 24912/25050. Bearish below 24500 for a move back to 24250/24050/23900. Important intraday time for reversal can be at 9:17/10:33/12:54/2:36. Understanding Stock Market Crash

 

 

  • Bank Nifty Oct Future Open Interest Volume is at 14.4 lakh with liquidation of 0.62 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25319 closed above it.
  • 25000 CE is having highest OI @5.9 Lakh resistance at 24800  followed 25000.  24000-26000 CE liquidated 1 Lakh in OI so bears covered in range 24400-24600 CE , still making  strong resistance of 24900-24000.

 

  • 24500 PE is having highest OI @5.8 Lakh, strong support at 24200 followed by 24000.24000-26000 PE liquidated 0.80 lakh OI so bulls making attempt to protect 24000.

 

 

Buy above 24700 Tgt 24830,24920 and 25040 (Bank Nifty Spot Levels)

Sell below 24520 Tgt 24400,24320 and 24100 (Bank Nifty Spot Levels)

1 thought on “Bank Nifty EOD Analysis for 09 Oct”

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