BANK Nifty EOD Analysis for 09 June

  • As Discussed in Last Analysis  It is very interesting to note that FII bought more options than what they sold and we have formed a compression pattern in bank nifty. That is another indication for me that a directional move is round the corner and a move of 500-800 points will be seen in single trading session Now Bulls need to move above 35555 for a move back to 35729/35888/36000. Bears will get active below 35333 for a move towards 35132/35000/34835. Bears got 2 target on downside and we saw the range expansion in bank nifty,Now Bank Nifty Bears need to break 35040 for a move towards 34900/34679/34395. Bulls will get active above 35212 for a move towards 35369/35555


  • Bank Nifty June  Future Open Interest Volume is at 17.7 lakh with addition of 0.18 Lakh, with decrease in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @34885 closed above it.
  • 36000 CE is having highest OI @22.8 Lakh resistance at 36000 followed 36300.35000-36000 CE added 22.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 35000 PE is having highest OI @28.3 Lakh, strong support at 35000 followed by 34500 .34000-35000 PE added 27 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35125 Tgt 35212,35369 and 35500 (Bank Nifty Spot Levels)

Sell Below 35040 Tgt 34900, 34729 and 34610 (Bank Nifty Spot Levels)

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