Monday, 25 October 2021

Bank Nifty investment analysis for 26th October 2021

 How did Banknifty perform on 25th October?

Banknifty opened gap-up and crawl along with Bollinger Band higher level. 

It made the day's high around 12 PM. BNF gave breakout first 15 min PRB around 10:16 AM. It formed a higher lower low around 2:30 PM. 

Banknifty October future closed at 41342 ( +2.34%). It traded the whole day with a bullish bias as predicated yesterday based on the NSE horoscope at 9:15 AM.

BNF is trading above 5 days on average VWAP, PCR is above 1. Total OI changed 14.0% so there is a long build-up in the future and call unwinding happened in 9 strikes. However, BNF closed below pen price, below day VWAP, and spot below pain.

Option strike  with buying pressure 40400 CE, 40600 CE

Option strike with selling pressure 41000 PE & 40500 PE

Plan for 26th October'21

  • Banknifty will be bullish if it trades above 41820 and protects 41080. 
  • BNF is nontradable between  41080 to 40450
  • BNF will be bearish below 40400

915 horoscope of NSE shows possible weakness in the market. The important time for the 26th of October is 11:40 AM.

Expected monthly expiry range 40400 to 41000

To get the latest analysis on banknifty and  other nifty 50 stocks,click the link to visit our home page:  banknifty investing home page

To get the latest analysis on banknifty and other nifty 50 stocks, click the link to visit our home page banknifty investing home page.

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