As discussed in last analysis Now next bullish move on close above 18030 for target of 18500/18758. Bearish only on close below 17500. High made today was 17720 and low made was 17575 near the gann horizontal line, break of 17500 we can see quick down move towards 17350 towards the gann red trend line. Bank Nifty closed just a tad above 17666 suggesting we can move till 18000 if we hold on to it on closing basis.How To Become A Profitable Trader
Bank Nifty June Future Open Interest Volume is at 15.74 lakh with liquidation of 0.22 lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost is coming at 16995 closed above it.Do you know your Risk of Ruin in trading ?
18000 CE is having highest OI @5.8 Lakh resistance formation @18000. 17000-19000 CE saw 0.57 lakh addition in OI so bears added in 18000 CE.
17000 PE is having highest OI @5.6 Lakh, strong support at 17000 followed by 16500, Bulls added 0.66 Lakh in OI in 17000-19000 PE as close above 17670.