RBI Policy Impact on Bank Nifty

  • As Discussed in Last Analysis   We saw the fall  below 35225 but Bears failed to do 1 target again got stopped out, Bulls above 35480 now waiting for the target of 35620/35777/35900/36143. Bears need to break 35225 for a move back to 34960/34674/34400.  Low made today was 35413 so Bulls got an entry and did 1 target on upside and now waiting for 35777/35900/36143. As RBI Policy will come tommrow try to 30 mins after policy announcement to capture the trend, Bears need to break 35444 for a move back to35284/35156/34040.  All Dips in curent week were bought and it can be classic case of Buy Rumuor Sell News kind of day as price and time cycle are meeting.36143 is PRZ Zone/Gann Angle Resistance zone as per below Harmonic/Gann Chart of Bank Nifty


  • Bank Nifty June  Future Open Interest Volume is at 16.9 lakh with liquidation of 0.09 Lakh, with increase in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @34885 closed above it.
  • 36000 CE is having highest OI @12.8 Lakh resistance at 36000 followed 36300.35000-36000 CE added 12.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 35000 PE is having highest OI @18.3 Lakh, strong support at 35000 followed by 34500 .34000-35000 PE added 17 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35666 Tgt 35777,35900 and 36088 (Bank Nifty Spot Levels)

Sell Below 35565 Tgt 35466, 35300 and 35155 (Bank Nifty Spot Levels)

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