- As discussed in Last Analysis 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 24300 so bank nifty again did 24270 and now is heading towards the next target of 24389/24480, 24477-24480 is major resistance for bank nifty, Bearish below 23700 for a move towards 23400/23100. Time Cycle will change for bank nifty on 23 July as its is Sunday so we can see effect either tomorrow or Monday. Why do 90% of traders lose money?
- Bank Nifty July Future Open Interest Volume is at 27.3 lakh with addition of 0.06 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @23361,closed above and did 900 points.
- 24000 CE is having highest OI @5.4 Lakh resistance at 24000 followed 24500. 23000-25000 CE added 10.9 lakh so Bears added major position in 24300-24500 range.
- 23000 PE is having highest OI @9.9 Lakh, strong support at 23000 followed by 23500, Bulls added 5.6 Lakh position in OI in range of 23000-25000 making strong base in range of 23300-23400.
Buy above 24240 Tgt 24300,24360 and 24420 (Bank Nifty Spot Levels)
Sell below 24150 Tgt 24100,24040 and 23957 (Bank Nifty Spot Levels)
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