Bank Nifty Analysis for July Series

  • As Discussed in Last Analysis As we have expiry tommrow Hourly close below 26352 can see fast move towards 26210/26064. Bullish above 26500 for a move back to 26640/26744. Bank Nifty did 26210 below 26352. Now as new series will start, Bulls need a close above 26352 for a move back to 26496/26640. Bearish below 26280 for a move towards 26210/26064. Bank Important intraday time for reversal can be at 10:48/1:50. H + W + P = E Formulae for Trading Success

  • Bank Nifty July Future Open Interest Volume is at 19.3  lakh with addition of 5.4 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26490 and rollover %@71.
  • 27000 CE is having highest OI @5 Lakh resistance at 27000 followed 27300.26000-28000 CE added 2.6 Lakh in OI so bears added  position at higher level  still resistance in range of 26500-26700

 

  • 26000 PE is having highest OI @4.1 Lakh, strong support at 26000  followed by 25800.26000-28000 PE  added 1.4  lakh in OI so bulls having strong support in range of 26000-25800.

 

Buy above 26352 Tgt 26420,26490 and 26610 (Bank Nifty Spot Levels)

Sell below 26300 Tgt 26230,26150 and 26064 (Bank Nifty Spot Levels)

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