Bank Nifty EOD Analysis after 500 point correction,EOD Analysis

• As Discussed in Last Analysis   We got the expected move above 24768, and as updated on twitter during market hours High made was 25371 near our level of 25366 and closed below it. Bulls need a close above 25366 for the next round of upmove towards 25600/25776. Bearish below 25100 for a move back to 24965/24800/24666. As market opened with gap down we updated our analysis on twitter during market hours we were able to capture some good moves both on upside and downside. Now Bank Nifty needs to close above 24800 for a move back to 24912/25056/25200. Bearish below 24480 for a move towards 24336/24192/24048.  Be cautious in last 1 hour of trading tomorrow. 14 Oct is very important Astrological date affect will be seen either tomorrow or Monday. Important intraday time for reversal can be at 9:54/11:02/1:22/3:07. Understanding Stock Market Crash

 

 

• Bank Nifty Oct Future Open Interest Volume is at 13.8 lakh with liquidation of 3.4 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25319 closed above it.
  

• 25000 CE is having highest OI @6.1 Lakh resistance at 25000  followed 25200.  24000-26000 CE added 1.94 Lakh in OI so bears added in range 24400-24600 CE making resistance again in range of 24800-25000.

• 24000 PE is having highest OI @5.9 Lakh, strong support at 24200 followed by 24000.24000-26000 PE liquidated 0.28 lakh OI so bulls making support at 24200-24000 range.
  

 

• Bank Nifty Futures Trend Deciding level is 24754 For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24975  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

 

Buy above 24740 Tgt 24830,24950 and 25060 (Bank Nifty Spot Levels)

Sell below 24464 Tgt 24380,24250 and 24125 (Bank Nifty Spot Levels)