- As discussing in past analysis If we break 17500 tomorrow we can see down move till 17350/17055 else again we will trade in range of 17500-18000. Low made was 17518 again bears were unable to break 17500 and bulls were unable to close above 17666 but again closed near gann trendline as shown above.Bulls needs a close above 18051 for next move 18650-18750, Bears below 17500 for move towards 17350/17055. In between bank nifty will keep trading in range of 17500-18000 and do time correction. Do you have Trading Regrets
- Bank Nifty June Future Open Interest Volume is at 18 lakh with addition of 0.21 lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost is coming at 16995 closed above it. Do you know your Risk of Ruin in trading ?
- 18000 CE is having highest OI @5.5 Lakh resistance formation @18000. 17000-19000 CE saw 0.20 lakh addition in OI so bears added again but no aggressive addition seen as close below 17666.
- 17000 PE is having highest OI @6.6 Lakh, strong support at 17000 followed by 16500, Bulls added 0.05 Lakh in OI in 17000-19000 PE.
Buy above 17666 Tgt 17730,17820 and 17951 (Bank Nifty Spot Levels)
Sell below 17510 Tgt 17430,17350 and 17280 (Bank Nifty Spot Levels)
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