Bank Nifty March Expiry Analysis

By | March 27, 2019
  • As Discussed in Last Analysis Fresh long should be taken above 30010 for a move towards 30096/30240/30384. Shorts will get activated below 29700 for a move back to 29520/29376. 30240 done which was gann angle resistance and we turned from that level, but closed above 30010. Fresh long should be taken above 30098 for a move towards 30240/30384. Shorts will get activated below 29900 for a move back to 29829/29743/29656.

  • Bank Nifty April Future Open Interest Volume is at 11.9 lakh with addition of 3.2 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27064  closed above it,Low made Friday was 27051 and rallies 2500  points
  • 30200 CE is having highest OI @5.7 Lakh resistance at 30200 followed 30000.  29000-30000 CE added 2.3 Lakh in OI so bears added  in the zone of 30000-30200
  • 29000 PE is having highest OI @5 Lakh, strong support at 29700 followed by 29500.26000-28000 PE liquidated 1.5 Lakh OI so bulls making strong support in the range of 29500-29800.

Buy above 30090  Tgt 30175 ,30260 and  30384 (Bank Nifty Spot Levels)

Sell below 29910 Tgt 29830,29743 and 29656 (Bank Nifty Spot Levels)

Upper End of Expiry :30287

Lower End of Expiry :29752

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