Bank Nifty Analysis for April Expiry

  • As discussed in Last Analysis  Bank nifty opened with gap up moved above the gann angle and now is heading towards 1 gann resistance of 22136 and above that 22325. Its been 1 way ride above 21600 and we are up 600 points in 2 trading session. Now strong support in range of 21850-884. Below this we can fall towards 21600. Bank Nifty continue to hold 22000 and made high of 22276. Levels to watch on upside as per gann analysis 22374/22547. Good Support in range of 21800-21830, till this level is held bullish bias continue.  How to trade F&O like Professional trader

  • Bank Nifty May Future Open Interest Volume is at 22.8 lakh with addition of 9.4  Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @21316, closed above it and Rollover % at 65.2
  • 22500 CE is having highest OI @5.1 Lakh resistance at 22400-22500 . 22000-22500 CE saw addition of 5.9 lakh in OI suggesting bears panicked and covered good amount of OI in range of 21700-22000.
  • 22000 PE is having highest OI @7.4 Lakh, strong support at 22000 followed by 21800, Bulls added 13.2  Lakh position in OI in range of 22000-22500 .

Buy above 22270 Tgt 22326,22400 and 22570 (Bank Nifty Spot Levels)

Sell below 22100 Tgt 22020,21940 and 21820 (Bank Nifty Spot Levels)

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