Bank Nifty Jan Month Expiry Analysis

As discussed in Last Analysis Bank NIfty saw a voaltile move during the day and made a lower low, we will open with gap down tommrow,Important level to watch out is 30909 on downside which is again a potential level for 500 points move either side.Bulls need to move above 31370 for a move back to 31555/31787/31987. Bears below 30900 for a move back to 30620/30500/30225. High made was 31287 so bulls unable to breach 31370 and bears once below 30900 did all target on downside and we got the 500 points move as per expectation. Now Bears need to break 29952 for a move back to 29808/29664/29520. Bulls above 30096 can rally abck to 30240/30384/30538.Remember, the people in pain, will be subjected to more pain during expiry. So, this month, bulls are in pain, and there might be more pain for them around expiry.

Intraday time for reversal can be at 9:22/10:30/11:40/12:13/1:46/2:20 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb Future Open Interest Volume is at 10.9 lakh with addition of 4.4 Lakh, with increase in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @31230 closed below it.

30500 CE is having highest OI @7.2 Lakh resistance at 30300 followed 30500.30000-33000 CE added 38.3 Lakh in OI so bears added position in the zone of 32800-33300.

30000 PE is having highest OI @9.2 Lakh, strong support at 30000 followed by 29500 .29000-31000 PE added 3.2 Lakh OI so bulls making support in the range of 29500-29800.

Bank Nifty Futures Trend Deciding level is 30738 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 31222 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy Above 30096 Tgt 30240,30384 and 30538 (Bank Nifty Spot Levels)