Bank Nifty EOD Analysis for 21 June

• As Discussed in Last Analysis  19 is an important time cycle date. High made today was 26448 so bank nifty bears were on frontfoot as we were below 26450 and did 2 target on downside.Below 26210 we can continue to see fall towards 26000-26025 where we have gann angle support, Again time analysis helped in capturing the move as fall came exactly on 19 June. Bullish above 26500 only. Bank Nifty opened with gap and did not break 26210 and once above 26500 bulls were active pushed index higher now waiting for the target of 25640/26784/26920.Bearish below 26490 for a move 26352/26210. Bank Important intraday time for reversal can be at 12:36/2:30.What is a reasonable objective for a day trader?

• Bank Nifty June Future Open Interest Volume is at 28.6  lakh with addition of 1.07 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26408 closed above it
  

• 27000 CE is having highest OI @14.8  Lakh resistance at 27000 followed 27500.26000-28000 CE added 1.6 Lakh in OI so bears added  position at higher level  still resistance in range of 26700-26900, High made today was 26765.

 

• 26000 PE is having highest OI @9.9  Lakh, strong support at 26200  followed by 26000.26000-28000 PE  added 5.2  lakh in OI so bulls having strong support in range of 26100-26200.
  

 

• Bank Nifty Futures Trend Deciding level is 26485 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 26477.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 26570 Tgt 26651,26745 and 26830 (Bank Nifty Spot Levels)

Sell below 26470 Tgt 26400,26310 and 26230 (Bank Nifty Spot Levels)