Bank Nifty June Expiry Analysis

  • As discussing in past analysis Break of 17350 on Hourly basis can lead to swift fall towards 17150/16950 and on upside close above 17722 will lead to move towards 18050. High made today was 17728, if we close above 17728 tomorrow and also gann arc we can see move towards 18000. But till we do not close above 18051 bank nifty will trade in range of 18000-17350.  Why I fail as a trader

bank nifty gann arc resistance

Supply Demand_Weekly

  • Bank Nifty June Future Open Interest Volume is at 10.3 lakh with liquidation of 2.5 lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost is coming at 16995,Low made was 16910 and bounced 450 points on Friday. Do you know your Risk of Ruin in trading ?
  • 18000 CE is having highest OI @5.7 Lakh resistance formation @18000. 17000-19000 CE saw 2.8 lakh addition in OI so bears ran for cover  as bank nifty continues to trade above 17500.
  • 17000 PE is having highest OI @9.4 Lakh, strong support at 17000 followed by 17500, Bulls added  11 Lakh in OI in 17500-18000 PE aggressive addition in 17400/17500 PE.

Buy above 17750 Tgt 17820,17900 and 18051 (Bank Nifty Spot Levels)

Sell below 17660 Tgt 17600,17520 and 17450(Bank Nifty Spot Levels)

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