- As discussed in Last Analysis Now bank nifty bulls should hold the range of 23450-23472 for next upmove towards 23760/23904. Bearish below 23400 for a move towards 23300/23170/23000. Low made today was 23514 so bulls protecting the lower end of 23472 and continue to move higher towards 23760/23904. Bearish below 23400 for a move towards 23300/23170/23000. As per Geometric Time Analysis we should see good move in bank nifty in next 2 trading sessions. Common Trading Mistakes
- Bank Nifty June Future Open Interest Volume is at 28.1 lakh with liquidation of 1.1 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @22660, closed above it.
- 23500 CE is having highest OI @5 Lakh resistance at 23700 followed 23900. 22500-24500 PE added 0.87 lakh so Bears continue to add position at higher level above 24000.
- 23000 PE is having highest OI @8.3Lakh, strong support at 23000 followed by 22800, Bulls added 1.6 Lakh position in OI in range of 22500-24500 making strong base in range of 23000-23200.
Buy above 23590 Tgt 23650,23720 and 23800 (Bank Nifty Spot Levels)
Sell below 23500 Tgt 23450,23350 and 23270 (Bank Nifty Spot Levels)
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