Bank Nifty hits 23250 Holding 22740, What to expect in June Series

  • As discussed in Last Analysis  Bullish above 22740 for a move towards 22900/23110.   Bank Nifty opened above 22600 made high of 22674 so failed to move near 22740 but as soon as 22600 was broken bears moved towards our target of 22450 low made was 22470, Now close below 22450 we can see fast move towards 22350/22180/22000. 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.   Money is a Lot Like Water

  • Bank Nifty June Future Open Interest Volume is at 31.6 lakh with addition of 15.4 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @22660, closed above it.

 

Buy above 23250 Tgt 2350,23460 and 23666 (Bank Nifty Spot Levels)

Sell below 23000 Tgt 22920,22830 and 22740 (Bank Nifty Spot Levels)

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3 thoughts on “Bank Nifty hits 23250 Holding 22740, What to expect in June Series”

  1. i think bnf will go down towards 22600-22800 within this expiry….whats ur say bramesh sir?

  2. expected it to move but not so fast..what was the reason for this? couldn’t get any reason..GST,Central Govt.?

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