Bank Nifty Weekly Expiry Analysis

By | October 9, 2019
  • Bank Nifty Bulls now need to move above 28800 for a move towards 29000/29270/29500/29782. Bears will get active below 28450 for a move back to 28200/28000. We have bounced from gann angle as shown below suggesting we are heading towards 29250/29700 range till we hold to 28450 levels.

  • Bank Nifty Oct Future Open Interest Volume is at 13.5  lakh with liquidation of 0.89 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @30213  closed below it.
  • 29000 CE is having highest OI @3 Lakh resistance at 28500 followed 29000.28000-31000 CE liquidated 3.5 Lakh in OI so bears covered  position in the zone of 28300-28500.
  • 27500 PE is having highest OI @2 Lakh, strong support at 28300  followed by 28000.27000-30000 PE added 4 Lakh OI so bulls making support in the range of 28300-28500.

Buy above 28860 Tgt 29000,29195 and  29300 (Bank Nifty Spot Levels)

Sell below 28700  Tgt 28550,28450 and 28225 (Bank Nifty Spot Levels)

Upper End of Expiry : 29116

Lower End of Expiry: 28597

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