Bank Nifty close above the Gann Angle,EOD Analysis

  • As discussed in Last Analysis  Low made today was 22570 and as soon as 2274o was broken the big move started with leap and bounds and did the both target 22900/23110.From June Series perceptive bank nifty bulls need a close above 23300 for the next move towards 24100. Bearish below 22900 for a move towards 22500. Bank Nifty closed above 23300 suggesting bulls are having upper hand and can push bank nifty all the way till 23600/23800/24000. Bearish below 22900 only.  Treat your parents with loving care

  • Bank Nifty June Future Open Interest Volume is at 31.6  lakh with addition of 0.002 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @22660, closed above it.
  • 23500 CE is having highest OI @6.6 Lakh resistance at 23500 followed 23700. 22500-24500 CE saw addition of 4.1  lakh in OI suggesting bears  added in 23500-24000 range strong resistance in this range.
  • 22500 PE is having highest OI @5.1 Lakh, strong support at 22500 followed by 23000, Bulls added 3.7 Lakh position in OI in range of 22500-23000 making strong base in range of 23000-22800.

Buy above 23410 Tgt 23480,23600 and 23750 (Bank Nifty Spot Levels)

Sell below 23260 Tgt 23150,23080 and 23000 (Bank Nifty Spot Levels)

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3 thoughts on “Bank Nifty close above the Gann Angle,EOD Analysis”

  1. Hello Bramesh Sir. Please check the rollover cost. It may be greater than 22035. Please update if any correction, sir.

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