Bank Nifty Analysis for Monthly Close

By | June 29, 2021 8:31 pm
  • As Discussed in Last Analysis  We will be see impact of Venus Ingress and Moon Saturn cycle tommrow, Bulls need to move above 35400 for a move back to 35576/35729/35885/36000. Bears will get active below 35225 for a move back to 35063/34864/34666.  High made was 35337 so bulls unable to cross 35400 and bears below 35225 did 1 target in very slow moving market. 34900-34915 is important zone which bears need to break for downside mometum to come towards 34729/34413. Bulls need to move above 35130 for a rally towards 35260/35510/35684. We have monthly close tommrow so should trending move in next 2 trading sessions. 

  • Bank Nifty July Future Open Interest Volume is at 20.3 lakh with addition of 0.5 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @34909 and Rollover 81.1% closed above it.
  • 36000 CE is having highest OI @6 Lakh resistance at 36000 followed 36500. 35000-36000 CE added 10.6 Lakh in OI so bears added position in the zone of 36000-36500.
  • 34000 PE is having highest OI @8.3 Lakh, strong support at 34000 followed by 33500 .34000-35000 PE added 12 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35050 Tgt 35125, 35260 and 35400 (Bank Nifty Spot Levels)

Sell Below 34910 Tgt 34836, 34666 and 34424 (Bank Nifty Spot Levels)

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