Banknifty Weekly Doji Candle Forms - Analysis for 1st Oct

Open Interest Data 

30000 CE is having Highest OI 8 Lakh resistance at 30000 followed by 29500 5.13 Lakh OI.

29500 CE added 4.59 Lakh OI & 30000 CE added 3.83 Lakh OI So Bear added a position in the zone of 29500 - 30000.

29000 PE is having Highest OI 4.56 Lakh Support at 29000 followed by 28500 @ 4.66 Lakh OI.

29000 PE added 1.22 Lakh OI & 28500 PE added 1.9 Lakh OI So Bulls added a position in the zone of 29000-28500.

Nifty Bank Weekly Chart 

Nifty Bank Spot Weekly Chart
Nifty Bank Spot Weekly Chart 

As we discussed, On a weekly Chart, Banknifty Spot has made a Doji candle.
Today Gap down opening leads banknifty towards 29000.

Support 29000/28600/28300
Resistance 29500/30000/30200

Nifty Bank Flag Pattern 

As discussed, a flag pattern is generated on the Bank nifty spot Hourly Chart.
Breakout of Flag may give 500-800 points move either side. We have seen today 700 points move after neckline is broken.

Supply Demand 

Self-explanatory chart 

Gann Dates 

As discussed, 30th Sep / 4th Oct is Pressure date, impulsive move can be seen around these dates.

High/Low of the Day 29753/28945 around 800 Points.

Banknifty Intraday Vedic Levels for 1st Oct

Buy above 29169 Target 29241,29313,29385,29448

Sell below 28900 Target 28773,28647,28521

Positional Vedic Support Resistance Zone 

Support 28900-29025 

Support 28413 - 28521

Resistance 29313-29457

Resistance 29925-30087

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