Bank Nifty Ready for a Big Move

By | June 25, 2019 9:15 am
  • As Discussed in Last Analysis 24 June is very important day as per Gann. 24 June High and low are very important and we should see a good move in Bank Nifty in next 2 days. Fresh Positional long should be taken above 30783 for a move back to 30999/31087/31176. Bears will get active below 30528 for a move back to 30386/30300/30212.

  • Bank Nifty June Future Open Interest Volume is at 17.7 lakh with liquidation of 1.5 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @31540 closed below it.
  • 31000 CE is having highest OI @5.2 Lakh resistance at 31000  followed 31500.  30000-32000 CE added 2.8 Lakh in OI so bears added in the zone of 31000-31500.
  • 30000 PE is having highest OI @3.1 Lakh, strong support at 30500 followed by 30200.30000-32000 PE added 12.6 Lakh OI so bulls making strong support in the range of 30300-30500.

Buy above 30660 Tgt 30777,30911 and  31000 (Bank Nifty Spot Levels)

Sell below 30525 Tgt 30400,30235 and 30100 (Bank Nifty Spot Levels)

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Category: Nifty Technical Analysis

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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