Bank Nifty Analysis for 09 June

• As discussed in last analysis Till Bulls are above 21000 can rally towards 21500/21970. Bears will have there chance below 20950 for a move back to 20811/20600. 21500 done and missed 2 target. Now Bulls need to move above 21316 for a move back to 21609/21904. Bears will get active below 21000 for a move back to 20736/20449. 20400-20320 is range for Astro date so break of these levels can only see big fall in bank nifty.
  

• Intraday time for reversal can be at 9:23/10:12/12:13/1:36/2:19How to Find and Trade Intraday Reversal Times

• Bank Nifty May Future Open Interest Volume is at 15.2  lakh with addition of 0.52 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @18001 closed above it

• 21500 CE is having highest OI @10 Lakh resistance at 21500 followed 22000.19000-22000 CE added 14.9 Lakh in OI so bears added position in the zone of 21000-21500.

• 20000 PE is having highest OI @16 Lakh, strong support at 20000 followed by 19800.19000-21000 PE added 14 Lakh OI so bulls making support in the range of 20300-20500.

• Bank Nifty Futures Trend Deciding level is 21346 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 20232 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 21250 Tgt 21360,21500 and 21690 (Bank Nifty Spot Levels)

Sell Below 21100 Tgt 21000,20800 and  20666 (Bank Nifty Spot Levels)

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