- As Discussed in Last Analysis 06 June is an important astrological date around which bank nifty has formed a bottom in past and also we are near gann angle support as shown in below chart, so till we are holding 26200 bulls can see a bounce back towards 26500/26640/26920.Bearish below 26200 for a move towards 26064/25920. Low made today was 26069 near our target of 26069 and we saw the close above 26200 and bulls held on to gann angle. As tommrow is important date and also RBI Policy which will come out around 2 Pm so bulls have chance to rally back towards 26352/26435/26640. Bearish below 26200 for a move towards 26064/25920. Bank Important intraday time for reversal can be at 10:03/11:43/2:31. How to convert a small trading account to Big one
- Bank Nifty June Future Open Interest Volume is at 24.8 lakh with liquidation of 1.27 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26408 closed below it
- 27000 CE is having highest OI @8 Lakh resistance at 27000 followed 27500.26000-28000 CE added 52.6 lakh in OI so bears added position at higher level making resistance in range of 27000-27300.
- 25500 PE is having highest OI @7.6 Lakh, strong support at 26200 followed by 26000.26000-28000 PE added 1.66 lakh in OI so bulls having strong support in range of 26100-26200.
- Bank Nifty Futures Trend Deciding level is 26214 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 26480. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 26300 Tgt 26352,26497 and 26640 (Bank Nifty Spot Levels)
Sell below 26200 Tgt 26070,26000 and 25920 (Bank Nifty Spot Levels)
Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586
Follow on Twitter:https://twitter.com/brahmesh