Bank Nifty Jan Expiry Range

  • As Discussed in Last Analysis Today being an important date high and low are important as explained in video below Bulls will get active only above 26750 for a move back to 26920/27045. Fresh shorts below 26440 for a move towards 26225/26000. Low made was 26693 and  high made was 26916 so bank nifty bulls were able to trade above 26750 and did our 1 target of 26920. Now Till we are above 26750 Bulls have upperhand and can push bank nifty towards 27045/27225. 27000 is our vedic number and any close above it can easily see rally of 350-500 points. Fresh shorts below 26440 for a move towards 26225/26000.
  • Intraday time for reversal can be at 10:28/12:14/2:44. Historical Nifty Movement on Budget Day

  • Bank Nifty Feb Future Open Interest Volume is at 8.6 lakh with addition of 2.2 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27033 closed below it.
  • 27000 CE is having highest OI @7.6  Lakh resistance at 27000  followed 27200.  26000-28000 CE liquidated 10 Lakh in OI so bears covered  position  in the zone of 26800-27000.Fight will be for 27000 on Expiry Day.
  • 26500 PE is having highest OI @7.9 Lakh, strong support at 26500 followed by 26300.26000-28000 PE added 5  Lakh OI so bulls bounced from 26500 and expiry day will try to close above 26900.

Buy above 26850 Tgt 26920,27040 and 27152 (Bank Nifty Spot Levels)

Sell below 26777 Tgt 26700,26600 and 26444 (Bank Nifty Spot Levels)

Upper End of Expiry:27076

Lower End of Expiry:26574

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