Bank Nifty Time Cycle show effect fall 800 points

  • As Discussed in Last Analysis High made was 31752 so bulls still unable to close above 31800, Bulls will get active only above 31800 for a move towards 32000/32250/32500. Bears will become active below 31500 for a move back to 31284/31100/30900. Time Cycle always give an additional Edge in the Market,Bank Nifty did not close above 31800 and once below 04 June Time Cycle low Bears got upper hand and  did target till 30900 fall of almost 700 points in single day. If RBI Day Low is not broken we can see a reverse move on upside as per time cycle. Bulls will get active only above 30960 for a move towards 31104/31248/31365/31500. Bears will become active below 30800 for a move back to 30672/30528/30384 Why Traders Lose Discipline

  • Bank Nifty June Future Open Interest Volume is at 20.5 lakh with liquidation of 0.13 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @31540 closed below it.
  • 32000 CE is having highest OI @2.9 Lakh resistance at 31500  followed 31800.  30000-32000 CE added 0.54 Lakh in OI so bears added in the zone of 31500-31800.
  • 30500 PE is having highest OI @2.4 Lakh, strong support at 30500 followed by 30800.30000-32000 PE added 0.16 Lakh OI so bulls making strong support in the range of 30500-30800.

Buy above 30960 Tgt 31104,31248 and  31392 (Bank Nifty Spot Levels)

Sell below 30800 Tgt 30672,30528 and 30284  (Bank Nifty Spot Levels)

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