- As discussed in Last Analysis Bank Nifty opened gap up as it closed above 22700 yesterday but did not gave the big move we were expecting as high made was 22860 still not near our target of 22940/23110. Bulls are in control till we trade above 22700, bears below 22500 only. Bank Nifty made high of 22977 doing our target of 22940 and now holding 20700 we can move towards 23110.Bearish only below 22500. Hope traders are njoying this wonderful ride we are having in market. Dance till the music lasts. How to maintain high level of energy during Trading Hours
- Bank Nifty May Future Open Interest Volume is at 37.2 lakh with liquidation of 0.48 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @22035, closed above it.
- 23000 CE is having highest OI @7.3 Lakh resistance at 23000 followed 22500. 21500-23500 CE saw addition of 3 lakh in OI suggesting bears added in range of 23000-23500.
- 22000 PE is having highest OI @9 Lakh, strong support at 22000 followed by 21800, Bulls added 1.7 Lakh position in OI in range of 22000-23500 making strong base in range of 22000-21800.
Buy above 22880 Tgt 22940,23010 and 23110 (Bank Nifty Spot Levels)
Sell below 22720 Tgt 22640,22520 and 22410 (Bank Nifty Spot Levels)
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