- As discussed in Last Analysis Fresh longs should be taken above 25000 for a move towards 25200-25284. Bearish below 24624 for a move towards 24480-24300. High made today was 25168 so bank nifty reached near our target of 25200 but did not achieve it,hopefully will be done tomorrow. Close above 25200 will push bank nifty towards 25344/25500. As we have new time cycle starting today so today’s low of 24828 should be held till 07 Aug for Bulls to have upper hand and move towards 25200/25344/25560. Bearish below 25000 for a move towards 24840/24440 Someone to Watch Over Me
- Bank Nifty Aug Future Open Interest Volume is at 25.1 lakh with addition of 1.4 Lakh, with decrease in Cost of Carry suggesting Short positions were added today. Bank nifty Rollover cost @24665
- 25000 CE is having highest OI @4.2 Lakh resistance at 25000 followed 24800. 24000-26000 CE added 3.1 lakh so Bears added major position in 25000-25500 range.
- 24000 PE is having highest OI @5.2 Lakh, strong support at 24000 followed by 23500, Bulls added 2.4 Lakh position in OI in range of 24000-26000 making strong base in range of 24000-24200.
Buy above 25170 Tgt 25220,25350 and 25500(Bank Nifty Spot Levels)
Sell below 25000 Tgt 24900,24820 and 24700 (Bank Nifty Spot Levels)
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