Bank Nifty Weekly Expiry Analysis

By | November 6, 2019
  • As discussed in Last Analysis  Bank Nifty closed below 30200 and waiting for target of 30050/29900/29700. Bulls will get active above 30300 for a move back to 30420/30600. All Bullish target done above 30300. Now Bull need to move 30700 for the move continue towards 30960/31104/31392. Bears will get active 30400 for a move back to 30240/30000.

  • Bank Nifty Nov Future Open Interest Volume is at 13.3 lakh with addition of 2.1 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29919  closed above it.
  • 31000 CE is having highest OI @7.3 Lakh resistance at 31000  followed 31200.31000-32000 CE liquidated 9.4 Lakh in OI so bears covered  position in the zone of 30500-30800.
  • 30000 PE is having highest OI @11 Lakh, strong support at 30000 followed by 29800.30000-31000 PE added 215 Lakh OI so bulls making support in the range of 29800-30000.

Buy above 30700 Tgt 30867,30999 and  30126 (Bank Nifty Spot Levels)

Sell below 30400 Tgt 30200,30051 and 29888 (Bank Nifty Spot Levels)

Upper End of Expiry : 30859

Lower End of Expiry : 30360

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