Bank Nifty Weekly Expiry Analysis

By | June 3, 2021 8:00 am
  • As Discussed in Last Analysis  Now we are nearing an important gann price time  squaring as tommrow is 81 trading days from low made of 29 Jan, Venus Ingress  and we are near gann angle resistance as shown in below chart. Now Bears need to break 35225 for a move back to 34960/34674/34400. Bulls need to move above 35480 for a move back to 35620/35777/35900.  We saw the fall  below 35225 but Bears failed to do 1 target again got stopped out, Bulls were able to close above 35480 now waiting for the target of 35620/35777/35900/36143. Bears need to break 35225 for a move back to 34960/34674/34400. 36143 is PRZ Zone as per below Harmonic Chart of Bank Nifty

  • Bank Nifty June  Future Open Interest Volume is at 17  lakh with liquidation of 0.31 Lakh, with increase in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @34885 closed above it.
  • 35800 CE is having highest OI @22.8 Lakh resistance at 35800 followed 36000.35000-36000 CE added 22.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 35000 PE is having highest OI @28.3 Lakh, strong support at 35000 followed by 34500 .34000-35000 PE added 27 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35385 Tgt 35477,35666 and 35900 (Bank Nifty Spot Levels)

Sell Below 35225 Tgt 35125, 34980 and 34679 (Bank Nifty Spot Levels)

Upper End of Expiry : 35769

Lower End of Expiry : 35130

Category: Nifty Weekly Expiry

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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