Bank Nifty Analysis for 23 June

By | June 22, 2021 9:30 pm
  • As Discussed in Last Analysis  We have 3 Plannet Ingress Sun/Jupiter/Mercury on 20/21/22 this particule Astro Phenomeon is called Tripple Ingress and is a very rare and powerful astro event,As Banks are impacted by Jupiter we should see outperformance of Bank Nifty going forward.Also we have gann date as shown below and today price bounced from gann angle suggesting a perfect price time squaring. Bulls will get active above 34940  for a move towards 35075/35220/35555.  Bears will get active below 34721 for a move towards 34578/34432/33225. Bank Nifty opened with gap up and did 35220 on upside,did time correction after big rally yesterday and failed to closed above the Triple Ingress Day High. Bulls will get active above 34940  for a move towards 35075/35220/35555.  Bears will get active below 34721 for a move towards 34578/34432/33225.

  • Bank Nifty June  Future Open Interest Volume is at 10.9 lakh with liqudiation of 2.7Lakh, 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 @32.6 Lakh resistance at 35000 followed 35500. 35000-36000 CE added 12.6 Lakh in OI so bears added position in the zone of 35000-35500.
  • 34000 PE is having highest OI @28.3 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 34830 Tgt 34940, 35075 and 35222 (Bank Nifty Spot Levels)

Sell Below 34666 Tgt 34512, 34343 and 34150 (Bank Nifty Spot Levels)

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