Bank Nifty fails to close above 18051,EOD Analysis

  • As discussing in past analysis Close above 18051 we can see move till 18700/18900. Bearish only on close below 17450. High made today was 17074 but unable to close above 18051, Close above 18051 is required for next move towards 18700 else bank nifty can fall towards 17700.  Bearish only on close below 17420.Why I fail as a trader




  • Bank Nifty July Future Open Interest Volume is at 18.2 lakh with liquidation of 0.008  lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover is 75 % Rollover cost is coming at 17775  Do you know your Risk of Ruin in trading ?
  • 18200 CE is having highest OI @2.30 Lakh resistance formation @18200. 17000-19000 CE saw 1.8 lakh addition in OI so bears added aggressively at 18500.
  • 17500 PE is having highest OI @3.89 Lakh, strong support at 17500 followed by 17000, Bulls added  2.3 Lakh in OI in 16000-18000 PE aggressive addition in 17600/17800 PE.

Buy above 18100 Tgt 18250,18350 and 18500 (Bank Nifty Spot Levels)

Sell below 17950 Tgt 17830,17730 and 17650(Bank Nifty Spot Levels)

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