Bank Nifty ready for Big move,EOD Analysis

By | June 12, 2018
  • As Discussed in Last Analysis  As tommrow is important trend change date expect a good move in bank nifty soon. Bulls need a close above 26500 for a move back to 26640/26773/26920. Bearish below 26350 for a move back to 26210/26064/25920. Bank Nifty did 26640 again above 26500, Bulls have been holding gann angle also we passed important time cycle date suggesting big move in round the corner, break of high of 26656 we can easily see move towards 26773/26920. Break of 26450 can see fast down move towards 26300/26210. Bank Important intraday time for reversal can be at 1:15/2:23. The Professional vs. Amateur’s Reaction to a Losing Trade

  • Bank Nifty June Future Open Interest Volume is at 26.6  lakh with addition of 0.84 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26408 closed above it
  • 27000 CE is having highest OI @9.77 Lakh resistance at 27000 followed 27500.26000-28000 CE no major change  in OI so bears added  position at higher level  still resistance in range of 26700-26900, High made today was 26653.

 

  • 26000 PE is having highest OI @8 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 1.30  lakh in OI so bulls having strong support in range of 26100-26200.

 

Buy above 26640 Tgt 26700,26777 and 26890 (Bank Nifty Spot Levels)

Sell below 26555 Tgt 26480,26420 and 26350 (Bank Nifty Spot Levels)

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