- As discussed in Last Analysis Long above 21300 for a move towards 21450/21500. Bearish below 21000 for a move towards 20800/20600. High made today was 21336 and low made was 21127 so bulls broke 21300 with gap up but bears became active and pushed the bank nifty below 21300, but bulls also did not let 21000 break so the range trade continues. Weekly close above 21000 is a very bullish sign as we have the Highest Weekly close. Long above 21300 for a move towards 21450/21500. Bearish below 21000 for a move towards 20800/20600. The Black Belt Story
- Bank Nifty March Future Open Interest Volume is at 22.3 lakh with liquidation of 0.58 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @20877, closed above it and rallied more than 500 points.
- 21500 CE is having highest OI @8.2 Lakh resistance at 21500. 20000-22000 CE saw addition of 0.60 lakh in OI suggesting bears are again wresting control over 21500.
- 20500 PE is having highest OI @6 Lakh, strong support at 20500 followed by 21000, Bulls added 2 Lakh in OI in range of 20000-22000 suggesting bulls are sealing 21000 for expiry.
Buy above 21220 Tgt 21280,21350 and 21420 (Bank Nifty Spot Levels)
Sell below 21090 Tgt 21000,20930 and 20850 (Bank Nifty Spot Levels)
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