Bank Nifty EOD Analysis for 14 Oct

  • As discussed in Last Analysis Now Bulls need to move above 28100 for a move back to 28400/28700. Bears will get active below 27900 for a move back to 27700/27521. Today is important time cycle date and we are near gann angle support suggesting we can rally above 28100. Volatility is the name of the game as we have seen in Friday market, Trade in less quantity put limit orders to avoid slippages.Now Bulls need to move above 28100 for a move back to 28400/28600/28850. Bears will get active below 27900 for a move back to 27700/27521.

  • Bank Nifty Oct Future Open Interest Volume is at 15  lakh with addition of 1.5 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @30213  closed below it.
  • 29000 CE is having highest OI @3.6 Lakh resistance at 29000 followed 29300.28000-31000 CE added 0.01 Lakh in OI so bears added  position in the zone of 28300-28500.
  • 28000 PE is having highest OI @5.1 Lakh, strong support at 27800  followed by 28300.27000-30000 PE added 23.3 Lakh OI so bulls making support in the range of 28000-28100.

Buy above 28130 Tgt 28225,28400 and  28600 (Bank Nifty Spot Levels)
Sell below 27900  Tgt 27777,27600 and 27400 (Bank Nifty Spot Levels)