Will Bank Nifty Bulls be able to hold 17666,EOD Analysis

  • As discussed in last analysis  Bulls needs to close above 18051 for next move towards 18600-18700. Unable to close above 18000 we can see another down move towards 17500. Bank Nifty High made today was 17827 and low made was 17545 so we did almost 17500. Bank Nifty again close above just tad of 17671, as we have weekly closing tommrow so unable to close above 17672, we can break 17500 and go all the way till 17350.  The Greatest Trades of All Time

gann horizontal line bank nfty

  • Bank Nifty June Future Open Interest Volume is at 15.2 lakh with liquidation of 1.17 lakh, with increase 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 @5.6 Lakh resistance formation @18000. 17000-19000 CE saw 0.21 lakh addition in OI so bears added again but no aggressive addition seen.
  • 17000 PE is having highest OI @6.4 Lakh, strong support at 17000 followed by 16500, Bulls liquidated 0.73  Lakh in OI in 17000-19000 PE as close above 17670.

Buy above 17700 Tgt 17770,17820 and 17950 (Bank Nifty Spot Levels)

Sell below 17650 Tgt 17550,17430 and 17350 (Bank Nifty Spot Levels)

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