Bank Nifty Analysis for Monthly Closing

  • As Discussed in Last Analysis Now above 31206  bulls have chance to rally towards 31365/31574. Bears will get active only below today close of 30940 for a move towards 30738/30529. 31365 done, Yesterday was mercury ingress as discussed in below video,Bank Nifty Bulls will get active above 31500 for a move towards 31784/32000. Bears will get active below 31156 for a move towards 31070/30900.

  • Bank Nifty July Future Open Interest Volume is at 17.3 lakh with addition of 5.6 Lakh, with increase in Cost of Carry suggesting short  positions were added today. Bank nifty Rollover cost @31207 closed above it.

Buy above 31310 Tgt 31453,31550 and  31784  (Bank Nifty Spot Levels)

Sell below 31200 Tgt 31100,30900 and 30790 (Bank Nifty Spot Levels)

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