Bank Nifty Bulls continue to hold to 23300,EOD Analysis

By | June 3, 2017 10:20 am
  • As discussed in Last Analysis   Bulls holding 23300 can see another upmove towards 23450-23500/ 23669. Bearish below 23100 for a move towards 22800-22500. Bank Nifty opened with gap near and made high of 23453 near our target of 23450 and saw a small correction and Low made today was 23308 bank nifty bulls continue to protect 23300, So as 23300 is held we will make another upmove towards 23450-23616-23760. Bearish below 23100 for a move towards 22800-22500. Because I was told I CAN

  • Bank Nifty June Future Open Interest Volume is at 31.4 lakh with addition of 0.30 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @22660, closed above it.
  • 23500 CE is having highest OI @10.3 Lakh resistance at 23500 followed 23700. 22500-24500 CE saw addition of 0.74 lakh in OI suggesting bears  added partial position in 23500-24000 strong resistance in this range.
  • 22500 PE is having highest OI @6.2 Lakh, strong support at 22500 followed by 23000, Bulls added 0.65 Lakh position in OI in range of 22500-24500 making strong base in range of 23000-22800.

Buy above 23430 Tgt 23490,23580 and 23670 (Bank Nifty Spot Levels)

Sell below 23300 Tgt 23230,23150 and 23000 (Bank Nifty Spot Levels)

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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