Bank Nifty did 26064 below 26280,EOD Analysis

By | July 3, 2018
  • As Discussed in Last Analysis  High made today was 26465 and we closed above 26352 so bulls continue to close above 26352 suggesting bulls have upper hand and can rally towards 26496/26640/26784/26920.Bearish below 26280 for a move towards 26210/26064. As soon as 26280 broken bank nifty corrected and did our target of 26060 low made was 26064 so levels worked perfectly.Bank Nifty below 26200 can again see correction till 26064/26000/25920. Bullish above 26260 for a move back to 26352/26496  Bank Important intraday time for reversal can be at 9:55/12:36/2:12.Trading a New Account

  • Bank Nifty July Future Open Interest Volume is at 20.1  lakh with addition of 0.88 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26490 closed below it.
  • 27000 CE is having highest OI @5.7 Lakh resistance at 27000 followed 27300.26000-28000 CE added 1.29 Lakh in OI so bears added  position at higher level  still resistance in range of 26500-26700

 

  • 25500 PE is having highest OI @7.8 Lakh, strong support at 26000  followed by 25800.26000-28000 PE saw no major addition OI so bulls having strong support in range of 26000-25800.

 

Buy above 26252 Tgt 26330,26455 and 26530 (Bank Nifty Spot Levels)

Sell below 26180 Tgt 26060,26000 and 25920 (Bank Nifty Spot Levels)

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