- As discussed in Last Analysis 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. Bank Nifty did a new life high above our breakout level of 23540 cool move of 400 points captured in 2 days based on time cycle ,now till we are holding 23716 we are heading towards 24025/24336. Bearish below 23700 for a move towards 23400/23100. Who says meditation is a waste of time?
- Bank Nifty July Future Open Interest Volume is at 25.8 lakh with addition of 0.11 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @23361,closed above and did 550 points.
- 24000 CE is having highest OI @5.9 Lakh resistance at 24000 followed 24500. 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 24030 Tgt 24090,24150 and 24250 (Bank Nifty Spot Levels)
Sell below 23850 Tgt 23800,23690 and 23520 (Bank Nifty Spot Levels)
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