Bank Nifty July Expiry Analysis

By | July 25, 2018
  • As Discussed in Last Analysis  Bank Nifty did 27064 but again unable to close above gann angle, also did whipsaw on short side, Now bulls need to close above 27008 for a move towards 27130/27225.Bearish below 26900 for a move back to 26784/26640/26496. Bulls were finally able to close above 27000 and now waiting for target of 27130/27225/27316, Bank Nifty look for a big move in next 2 days based on time analysis. Bearish below 26900 for a move back to 26784/26640/26496. Important intraday time for reversal can be at 12:06/3:11. NSE Extended Trading Hours Pros and Cons

  • Bank Nifty Aug Future Open Interest Volume is at 11.4 lakh with addition of 4.5 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26490 closed below it.
  • 27500 CE is having highest OI @9 Lakh resistance at 27300 followed 27500.26000-28000 CE liquidated 4 Lakh in OI so bears covered position at higher level  still resistance in range of 27300-27500

 

  • 26800 PE is having highest OI @8.5 Lakh, strong support at 26800 followed by 26900.26000-28000 PE added 5.4 OI so bulls having strong support in range of 26700-26800.

 

 

Buy above 27090  Tgt 27150,27225 and 27316 (Bank Nifty Spot Levels)

Sell below 27000 Tgt 26930,26830 and 26700 (Bank Nifty Spot Levels)

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