- As discussed in Last Analysis Bank nifty again did a close above 24000 even when nifty corrected almost 100 points, and in process did the next target of 24120. Now till we are holding 23760 bulls can continue to move ahead and can take bank nifty towards 24120/24270/24389/24480, 24477-24480 is major resistance for bank nifty, Bearish below 23700 for a move towards 23400/23100. High made today was 24180 so bank nifty again did 24120 and now is heading towards the next target of 24270/24389/24480, 24477-24480 is major resistance for bank nifty, Bearish below 23700 for a move towards 23400/23100. Can Retail traders make money in Stock market?
- Bank Nifty July Future Open Interest Volume is at 27.2 lakh with addition of 0.29 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @23361,closed above and did 600 points.
- 24000 CE is having highest OI @5.2 Lakh resistance at 24000 followed 24500. 23000-25000 CE added 1.46 lakh so Bears added major position in 24300-24500 range.
- 23000 PE is having highest OI @12.5 Lakh, strong support at 23000 followed by 23500, Bulls added 1.6 Lakh position in OI in range of 23000-25000 making strong base in range of 23300-23400.
Buy above 24180 Tgt 24240,24290 and 24330 (Bank Nifty Spot Levels)
Sell below 24100 Tgt 24030,23950 and 23877 (Bank Nifty Spot Levels)
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