Bank Nifty June Expiry Analysis

  • As Discussed in Last Analysis  Bullish above 26640 for a move back to 26744/26920. Bearish below 26496 for a move towards 26352/26210. High made today was 26634 so bank nifty bulls were not able to break 26640 and once 26496 was broken we did 26352. 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 Important intraday time for reversal can be at 12:11/3:09. H + W + P = E Formulae for Trading Success

  • Bank Nifty July Future Open Interest Volume is at 13.8  lakh with addition of 8.4 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26408 closed above it.
  • 26500 CE is having highest OI @11.4 Lakh resistance at 26500 followed 26700.26000-28000 CE added 14.6 Lakh in OI so bears added  position at higher level  still resistance in range of 26500-26700

 

  • 26000 PE is having highest OI @9.6 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  liquidated 4  lakh in OI so bulls having strong support in range of 26100-26200.

 

Buy above 26470 Tgt 26555,26610 and 26700 (Bank Nifty Spot Levels)

Sell below 26350 Tgt 26300,26210 and 26120 (Bank Nifty Spot Levels)

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