Nifty Bank Analysis for 20 Jul

  • As discussed in last analysis  Bears got whipsawed below 21170, Bulls got active 21640 for a move back to 21870/22110. Bears will get active below 21400 for a move back to 21170/20940. Low made was 21550 so above 21640 Bulls got active ans did 1 target on upside,Monday is an important Astro date so we should see a trending move. Bulls need to move above 22000 for a move towards 22170/22370/22500. Bears will get active below 21870 for a move back to 21640/21400.

  • Bank Nifty July Future Open Interest Volume is at 14.6 lakh with liquidation of 0.32 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @21720 closed below it.
  • 22500 CE is having highest OI @8 Lakh resistance at 22500 followed 23000.20000-23000 CE added 14 Lakh in OI so bears added position in the zone of 21500-22000.
  • 21000 PE is having highest OI @8 Lakh, strong support at 21000 followed by 21500.20000-23000 PE added 24 Lakh OI so bulls making support in the range of 21800-22000.

Buy Above 22000 Tgt 22122,22300 and 22450 (Bank Nifty Spot Levels)

Sell Below 21910 Tgt 21810,21666 and  21500 (Bank Nifty Spot Levels)

4 thoughts on “Nifty Bank Analysis for 20 Jul”

  1. oh okay, thanks for reply,
    was monitoring your call today, Hats off for BajajFin ✌️
    Changing my mind to Harmonic and Gann

  2. Hello
    the OI details mentioned for 22500 CE or 21000 PE are not matching with nse data, I can you please let me know what are those or from where those are derived.
    ( same case with Nifty post)
    Thanks

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