Bank Nifty Bulls hang on to 26500,EOD Analysis

By | July 6, 2018 8:50 am
  • As Discussed in Last Analysis  Now bulls need a close above 26500 for a move back to 26569/26640/26784. Bearish below 26350 for a move back to 26210/26064. We have important time cycle date today good move can be seen in coming 2 days.High made today was 26598 so bank nifty did 2669 above 26500 and closed also above 26500.Till we are holding 26500 we can see move back to 26569/26640/26784.  Bearish below 26350 for a move back to 26210/26064.Bank Important intraday time for reversal can be at 1:23/2:52.Trading Quotes Every Trader should read

  • Bank Nifty July Future Open Interest Volume is at 21.5  lakh with liquidation of 0.87 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26490 closed below it.
  • 27000 CE is having highest OI @5.8 Lakh resistance at 27000 followed 27300.26000-28000 CE added 0.76 Lakh in OI so bears added minor  position at higher level  still resistance in range of 26500-26700


  • 25500 PE is having highest OI @7.1 Lakh, strong support at 26000  followed by 25800.26000-28000 PE added 1.12 OI so bulls having strong support in range of 26200-26000.


Buy above 26500 Tgt 26569,26640 and 26760 (Bank Nifty Spot Levels)

Sell below 26410 Tgt 26350,26222 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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