- As discussed in Last Analysis Low made today was 23610 and High 23760 so bank nifty continue to trade in the range as we mentioned not breaking any 1 of them so we were in no trade zone. If we hold today low of 23610 than we have a price time squaring and it generally leads to good move on. Bullish above 23760 for a move towards 23904/24048/24144. Bearish below 23616 for a move towards 23474/23328/23150. High made was 23897 so bulls did the 1 target of 23904 and saw a intraday correction till 23694 but failed to close above 23760 and also formed a gravestone doji candlestick. Plan remains the same Bullish above 23760 for a move towards 23904/24048/24144. Bearish below 23616 for a move towards 23474/23328/23150 Mistake most amateur traders repeat time to time
- Bank Nifty June Future Open Interest Volume is at 22.9 lakh with liquidation of 0.32 Lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @22660, closed above it.
- 24000 CE is having highest OI @8 Lakh resistance at 23700 followed 24000. 22500-24500 PE added 9.3 lakh so Bears added position in 23700-24000 range.
- 23500 PE is having highest OI @12.9 Lakh, strong support at 23500 followed by 23200, Bulls added 7.4 Lakh position in OI in range of 23200-23500 making strong base in range of 23000-23200.
Buy above 23780 Tgt 23860,23970 and 24061 (Bank Nifty Spot Levels)
Sell below 23690 Tgt 23640,23580 and 23450 (Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates
Click Here to Join me on Twitter