Bank Nifty forms Inside Bar,EOD Analysis

  • As Discussed in Last Analysis Till we are below 29000 bears have upper hand can push bank nifty towards 28800/29640. Bulls will get active above 29030 for a move back to 29180/29350. 29180 done,Bulls now need a close above 29100 for a move back to 29300/29555. Bears will get active below 28871 for a move back to 28666/28525.

  • Bank Nifty July Future Open Interest Volume is at 13.8 lakh with addition of 3.8 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29286  closed below it.

Buy above 29090 Tgt 29210,29320 and  29450 (Bank Nifty Spot Levels)

Sell below 29000 Tgt 28902 ,29780 and 28600 (Bank Nifty Spot Levels)

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