Bank Nifty Weekly Expiry Analysis

  • As discussed in Last Analysis  Now Bulls need to hold 30900-30950 range for upmove to continue towards 31333/31555/31800. Bears will get active below 30900 for a move back to 30750/30500. Bulls were unable to hold 30900, below 30900 bears had upper hand and did both target on downside. Bears now need to break 30500 for a move back 30300/30030. Bulls will get active above 30750 for a move back to 30990/31200.

  • Bank Nifty Nov Future Open Interest Volume is at 17.1 lakh with liquidation of 1.77 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29919  closed above it.
  • 31000 CE is having highest OI @8.5  Lakh resistance at 31000  followed 31300.30000-32000 CE added 29 Lakh in OI so bears added position in the zone of 31000-31300.
  • 30500 PE is having highest OI @4.7 Lakh, strong support at 30500 followed by 30300.30000-31000 PE liquidated 11.2 Lakh OI so bulls making support in the range of 30500-30300.

Buy above 30600 Tgt 30721,31900 and  31000  (Bank Nifty Spot Levels)

Sell below 30500 Tgt 30300,30150 and 30000 (Bank Nifty Spot Levels)

Upper End of Expiry : 30802

Lower End of Expiry : 30280

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