- As discussed in Last Analysis High made today was 23736 so bank nifty again did our breakout target twice in 2 days. Now we are heading towards 23964/24144 till we held on to 23550. Bearish below 23300 for a move towards 23150/23000. As per time cycle till we are holding todays low of 23530 bulls will have upper hand and can push bank nifty beyond 24500 until we get the next time cycle turning date. High made today was 23938 so bulls continue to rally, now next levels to watch out are 24025-24048, above which we can move towards 24144/24389 which is the target of this move as per below chart. bearish below 23472 for a move towards 23300/23150. Quiz: How strong is your Trading Psychology
- Bank Nifty June Future Open Interest Volume is at 25.7 lakh with liquidation of 0.21 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @23361,closed above and did 550 points.
- 24000 CE is having highest OI @5.7 Lakh resistance at 23500 followed 23700. 23000-25000 CE added 5.2 lakh so Bears added major position in 24000-24500 range.
- 23000 PE is having highest OI @15.8 Lakh, strong support at 23000 followed by 22500, Bulls added huge 1.8 position in OI in range of 23000-25000 making strong base in range of 23300-23400.
Buy above 23900 Tgt 23950,24000 and 24100 (Bank Nifty Spot Levels)
Sell below 23800 Tgt 23750,23690 and 23520 (Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates
Click Here to Join me on Twitter