Bank Nifty Weekly Expiry Analysis

  • As Discussed in Last Analysis    Low made today was 27385 so bulls protected 27360 till we are holding 27360 up move to continue towards  27656/27830/27920/28100.Bears will become active below 27360 for a move back to 27225/27100/27000.  Bank Nifty bears got active below 27360 and did 1 target on downside, Now Bears need to break 27216 for a move back to 27072/27000/26920. Bulls will get active above 27360 for a move back to 27504/27648 Intraday time for reversal can be at 11:33//2:33. Trading Mindset of Successful Traders

  • Bank Nifty Jan Future Open Interest Volume is at 19.5 lakh with liquidation of  0.10 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27033 closed above it.
  • 27500 CE is having highest OI @6.6 Lakh resistance at 27600  followed 27800.  26000-28000 CE added 6.5 Lakh in OI so bears added  position  in the zone of 27500-27800.
  • 27000 PE is having highest OI @7 Lakh, strong support at 27000 followed by 26900.26000-28000 PE liquidated 0.47 Lakh OI so bulls making strong support in the range of 26900-27000.

Buy above 27300 Tgt 27360,27476 and 27564 (Bank Nifty Spot Levels)

Sell below 27216 Tgt 27110,27000 and 26920 (Bank Nifty Spot Levels)

Upper End of Expiry:27507

Lower End of Expiry:26992

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