- As discussed in Last Analysis Bank Nifty failed to close above 23300, but managed to hold the gann angle where it did breakout, holding the same attempt will be made to move towards 23300/23600. Bearish below 22900 for a move towards 22740/22500. Bank Nifty continue to hold on to its gann angle level as shown in below chart and bounced and made the high of 23337 and closed above 23000. So Bulls bounced from gann angle and also closed above 23300 suggesting we can see a rally towards 23500-23600. Bearish below 22900 only. As we approach the monthly closing tomorrow which is also gann pressure date good move can be seen in next 2 days. How I Deal with Trading Losses
- Bank Nifty June Future Open Interest Volume is at 31.8 lakh with addition of 0.61 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 @8 Lakh resistance at 23500 followed 23700. 22500-24500 CE saw addition of 1.3 lakh in OI suggesting bears added in 23500-24000 range strong resistance in this range.
- 22500 PE is having highest OI @5.6 Lakh, strong support at 22500 followed by 23000, Bulls added 1 Lakh position in OI in range of 22500-23000 making strong base in range of 23000-22800.
Buy above 23330 Tgt 23380,23450 and 23550 (Bank Nifty Spot Levels)
Sell below 23230Tgt 23160,22070 and 22980(Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates
Click Here to Join me on Twitter