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- As Discussed in Last Analysis Bulls above 35480 now waiting for the target of 35620/35777/35900/36143.Bears need to break 35444 for a move back to 35284/35156/34040. 36143 is PRZ Zone/Gann Angle Resistance zone as per below Harmonic/Gann Chart of Bank Nifty. or the last 2 trading days – it is very interesting to note that FII bought more options than what they sold and we have formed a compression pattern in bank nifty. That is another indication for me that a directional move is round the corner and a move of 500-800 points will be seen in single trading session Now Bulls need to move above 35555 for a move back to 35729/35888/36000. Bears will get active below 35333 for a move towards 35132/35000/34835.
- Bank Nifty June Future Open Interest Volume is at 17.5 lakh with liquidation of 0.55 Lakh, with decrease in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @34885 closed above it.
- 36000 CE is having highest OI @22.8 Lakh resistance at 36000 followed 36300.35000-36000 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 35450 Tgt 35546,35650 and 35754 (Bank Nifty Spot Levels)
Sell Below 35333 Tgt 35235, 35130 and 35001 (Bank Nifty Spot Levels)