Bank Nifty Feb Expiry Analysis

  • As Discussed in Last Analysis Bears will become active below 26920 for a move back to 26800/26735/26610. Bulls will rally above 27020 for a move towards 27120/27225/27360. Levels mentioned on Twitter worked fine today as we have expiry tomorrow Bulls will rally above 26850 for a move back to 26920/27000/27070. Bears will get active below 26720 for a move back to 26610/26500

  • Bank Nifty March Future Open Interest Volume is at 6.9 lakh with addition of 2.4 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @26934 closed above it.
  • 27000 CE is having highest OI @6.3 Lakh resistance at 27000  followed 27200.  26000-28000 CE added 3.8 Lakh in OI so bears added position  in the zone of 27000-27100.
  • 26500 PE is having highest OI @5.7 Lakh, strong support at 26800 followed by 26600.26000-28000 PE liquidated 4.4 Lakh OI so bulls making strong support in the range of 26600-26800.

Buy above 27830 Tgt 27920 ,27000 and 27070 (Bank Nifty Spot Levels)

Sell below 26720 Tgt 26666,26610 and 26500 (Bank Nifty Spot Levels)

Upper End of Expiry:27068

Lower End of Expiry:26529

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