Banknifty Weekly Analysis for 16th - 20th Sep 2019

Banknifty Open Interest Data :

Max Open Interest in Banknifty weekly Expiry 19th Sep is,

Call OI 28500: 4.64 Lakh
Put OI 27500: 5.99 Lakh

Banknifty Spot weekly Support is 27500 and Resistance 28500.

At Strike Price 28000, 4 Lakh OI on Call side is standing and 32000 Open Interest decreased
Put Side 2.1 Lakh OI standing & 1.08 Lakh OI increased.

Which is suggesting that Bulls increase the position at 28000 Put and making strong support.
The short-covering may lead Banknifty towards 28500.

Banknifty Spot Gann Fan :

Banknifty Gann Fan Chart
Banknifty Gann Fan Chart

 For Next Week Banknifty Gann Fan Limits :

Upper Limit: 28276 - 29000
Lower Limit: 27700 - 28170

Banknifty Daily Chart :

Banknifty Daily Candlestick Chart
Banknifty Daily Candlestick Chart 

It has given Convergent Channel Breakout on Daily chart.

Next Resistance is around 28878 and Support is 27570. 

Banknifty Spot Weekly Chart :


On a weekly chart, Big Bullish Candle has appeared after Hammer. 

As per the weekly chart, the Next Level upper side is  28560 and 29600
Lower Side 27000.

Banknifty Intraday Levels For 16th Sep :


Buy above 28188 Target 28296 28404 28512

Sell below 27990 Target 27900 27810 27720


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