Bank Nifty Analysis for 18 June

By | June 17, 2021 10:12 pm
  • As Discussed in Last Analysis Bulls again failed to give follow upmove above 35323 again got whipsawed, Bears got the chance did only 1 target on downside in slow moving market. Now Bears need to move below 34910 for a move back to  34819/34636. Bulls will get active above 35101 for a move towards 35225/35424/35610. High made was 34882 near our trigger level of 34910 and did all target on downside. We are approaching crucial time cycle both ganna and asto, price is  near gann support zone as shown in below chart suggesting we are in another big move in next 2 trading sessions. Bulls will get active above 34729 for a move towards 34882/35070/35225.  Bears will get active below 34410 for a move towards 34225/34054/33900.

  • Bank Nifty June  Future Open Interest Volume is at 14.8 lakh with liqudiation of 0.14 Lakh, with decrease in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @34885 closed above it.
  • 35000 CE is having highest OI @18.6 Lakh resistance at 35000 followed 35500. 35000-36000 CE added 22.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 34000 PE is having highest OI @8.3 Lakh, strong support at 34500 followed by 34000 .34000-35000 PE added 17 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 34670 Tgt 35824, 34920 and 35070 (Bank Nifty Spot Levels)

Sell Below 34555 Tgt 34414, 34323 and 34224 (Bank Nifty Spot Levels)

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