Bank Nifty EOD Analysis for 08 June

By | June 9, 2018 7:18 am
  • As Discussed in Last Analysis   High made today was 26766 so we did 2 target again and are up 500 points from the low on time analysis date. Now Bulls need a close above 26640 for a move towards 26773/26920. Bearish below 26352 for a move towards 26210/26064. Bank Nifty opened gap down but whipsawed bears once it went below 26352 but failed to do the target of 26210, Bulls need a close above 26500 for a move back to 26640/26773/26920. Bearish below 26200 for a move back to 26064/25920. Bank Important intraday time for reversal can be at 1:17/3:02. How to convert a small trading account to Big one

  • Bank Nifty June Future Open Interest Volume is at 25.5  lakh with liquidation of 0.50 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26408 closed above it
  • 27000 CE is having highest OI @10.1 Lakh resistance at 27000 followed 27500.26000-28000 CE added 2.7  lakh in OI so bears added  position at higher level  still resistance in range of 26700-26900.


  • 26000 PE is having highest OI @7.1 Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 0.05  lakh in OI so bulls having strong support in range of 26100-26200.


Buy above 26480 Tgt 26555,26610 and 26666 (Bank Nifty Spot Levels)

Sell below 26400 Tgt 26330,26250 and 26150 (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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