Bank Nifty Analysis as Mercury goes Helio Ingress

By | July 26, 2021 7:48 pm
  • As Discussed in Last Analysis   Now Bears need to break 34555 for a quick move towards 34400/34323/34230/34062. Bulls will get active above 34777 for a move towards 34870/35000/35172.As discussed on below video Mercury goes Helio Ingress suggesting we are in for a big move in market in next 2 trading sessions. Now Bulls need to move above 34980 for a move back to 35168/35387/35637. Bears will get active below 34898 for a move back to 34700/34450/34231.

  • Bank Nifty July Future Open Interest Volume is at 13.6 lakh with liquidation of 1.3 Lakh, with increase in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @34909  closed above it.
  • 35500 CE is having highest OI @12.7 Lakh resistance at 35500 followed 36000 . 35000-37000 CE added 25.3 Lakh in OI so bears added position in the zone of 35800-36000.
  • 34000 PE is having highest OI @13.7 Lakh, strong support at 34500 followed by 34000 .34000-35000 PE added 22 Lakh OI so bulls making support in the range of 34500-34000.

Buy Above 34980 Tgt 35168, 35300 and 35555 (Bank Nifty Spot Levels)

Sell Below 34898 Tgt 34729, 34555 and 34400 (Bank Nifty Spot Levels)

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