Bank Nifty July Expiry Analysis

By | July 24, 2019
  • As Discussed in Last Analysis Bears will get active below 29088 for a move back to 28944/28800/28656. Bulls above 29200 can push towards 29376/29520/29664.Bank Nifty is doing Price Time Squaring if 29078 is protected. Bulls got whipsawed above 29200 and bears were able to do 1 target on downside. Till we are below 29000 bears have upper hand can push bank nifty towards 28800/29640. Bulls will get active above 29030 for a move back to 29180/29350.

  • Bank Nifty July Future Open Interest Volume is at 10 lakh with addition of 2 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @31207 closed below.
  • 29300 CE is having highest OI @6.6 Lakh resistance at 29300  followed 29500. 28500-295000 CE added 13 Lakh in OI so bears added position in the zone of 29000-29200.
  • 28800 PE is having highest OI @4.5 Lakh, strong support at 28800 followed by 28600.28500-29000 PE added 1.2 Lakh OI so bulls making strong support in the range of 28800-28900.

Buy above 29025 Tgt 29150,29252 and  29400 (Bank Nifty Spot Levels)

Sell below 28900 Tgt 28798 ,29700 and 28656  (Bank Nifty Spot Levels)

Upper End of Expiry:29145

Lower End of Expiry:28759

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