Bank Nifty does 26660 below 26920,EOD Analysis

By | June 2, 2018 8:44 pm
  • As Discussed in Last Analysis Now bulls need a close above 27072 for the next round of up move towards 27216/27360 where we see the next gann resistance, Above which we can do 27756/27789. Bearish below 26920 for a move towards 26784/26640. As soon as 26920 was broken bears were on front seat and made low at 26658 near our target of 26640. Now Bulls need a close above 26784 for a move back to 26920/27074. Bearish below 26640 for a move back to 26500/26352. High made was Bank Important intraday time for reversal can be at 9:39/12:17/2:22. How to convert a small trading account to Big one

  • Bank Nifty June Future Open Interest Volume is at 27.1 lakh with liquidation of 1.2 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26408
  • 27500 CE is having highest OI @5.7 Lakh resistance at 27500 followed 28000.26000-28000 CE added 1.9 lakh in OI so bears added  position at higher level making resistance in range of 27000-27300.


  • 25500 PE is having highest OI @6.9 Lakh, strong support at 26300  followed by 26000 at start of the series.26000-28000 PE  added 1.3 lakh in OI so bulls having strong support in range of 26100-26200.


Buy above 26790 Tgt 26920,27000 and 27072 (Bank Nifty Spot Levels)

Sell below 26640 Tgt 26570,26496 and 26400 (Bank Nifty Spot Levels)

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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