Bank Nifty Weekly Expiry Analysis

By | September 4, 2019
  • As Discussed in Last Analysis Bears will get active below 26740 for a move towards 26590/26433/26200. Bulls will get active above 26940 for a move towards 27100/27300. Low made was 26641 so bears got whipsawed below 26740 , Bulls got active above 26940 and made high of 27278 almost done our final target of 27300. Bulls now need to close 27300 for a move back to 27570/27840. Bears will get active below 27000 for a move back to 26866/26703/26621. Tomorrow is important time cycle date.

  • Bank Nifty Sep Future Open Interest Volume is at 15 lakh with liquidation of 0.89 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @27807 closed below it.
  • 28000 CE is having highest OI @3.6 Lakh resistance at 28000  followed 28300. 27000-30000 CE added 0.92 Lakh in OI so bears added position in the zone of 27000-27500.
  • 26500 PE is having highest OI @2.4 Lakh, strong support at 26800 followed by 26500.26000-29000 PE liquidated 0.09 Lakh OI so bulls making support in the range of 26500-26800.

Buy above 27150 Tgt 27278,27387 and  27500 (Bank Nifty Spot Levels)

Sell below 27025 Tgt 26948,26866 and 26784 (Bank Nifty Spot Levels)

Upper End of Expiry : 27368

Lower End of Expiry : 26879

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