Bank Nifty hold 26352 and bounced 500 point,EOD Analysis

  • As Discussed in Last Analysis Bank Nifty opened gap down took support near 26000 and bounced back, Now bulls need to see a close above 26352 for a move back to 26496/26640/26777. Any break of 26208 can see fast decline towards 26064/25920/25776/25600. Low made today was 26354 so again bank nifty respected our level of 26352 and saw a bounce of more than 700 points, from our level of 26352 and did all our target. Now bulls need a close above 27072 for the next round of up move towards 27216/27360 where we see the next gann resistance, Above which we can do 27756/27789. Bearish below 26920 for a move towards 26784/26640. Bank Important intraday time for reversal can be at 12:27/2:42. How to convert a small trading account to Big one

  • Bank Nifty June Future Open Interest Volume is at 28.4  lakh with addition of 12.8 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26408 and rollover %@ 74
  • 27500 CE is having highest OI @5.4 Lakh resistance at 27500 followed 28000.26000-28000 CE added 7.5 lakh in OI so bears added  position at higher level making resistance in range of 26500-26700.

 

  • 25500 PE is having highest OI @6.63 Lakh, strong support at 25500  followed by 26000 at start of the series.25000-27000 PE  added 3 lakh in OI so bulls having strong support in range of 26100-26200.

 

Buy above 27000 Tgt 27074,27280 and 27390 (Bank Nifty Spot Levels)

Sell below 26900 Tgt 26820,26720 and 26600 (Bank Nifty Spot Levels)

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