Bank Nifty EOD Analysis for 01 Nov

  • As discussed in Last Analysis   Now today being expiry bulls need to close above 30100 for a move back to 30272/30447. Bears will become active below 29900 for a move back to 29776/29565. 30415 done now bulls need to move above 30160 for a move back to 30325/30555. Bears will become active below 29900 for a move back to 29776/29565.31 Oct was Mercury Ingress so high and low of 31 Oct very important break of 30415 on upside and break below 29987 can lead to 300-400 points move in bank Nifty.

  • Bank Nifty Nov Future Open Interest Volume is at 7.8 lakh with addition of 1.7 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29919  closed above it.

Buy above 30150 Tgt 30250,30400 and  30555 (Bank Nifty Spot Levels)

Sell below 29950 Tgt 29800,29666 and 29555 (Bank Nifty Spot Levels)

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