Bank Nifty April Expiry Levels

  • As Discussed in Last Analysis Bears waiting for further target of 29389/29278/29156 below 29455. Bulls will get active above 29770 for a move back to 29855/29941/30028/30115 . Intraday Levels mentioned on twitter did the target. Bears got whipsawed and bulls were able to rally towards 2 target,Now Bulls need to go above 29920 for rally to continue towards 30078/30150. Bears will get active below 29720 for a move back to 29650/28540.  Build Good Trading Habits

  • Bank Nifty May Future Open Interest Volume is at 13.2 lakh with addition of 4.5 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29967 closed below it.
  • 30000 CE is having highest OI @10 Lakh resistance at 30000 followed 30200.  29000-31000 CE liquidated huge 16 Lakh in OI so bears covered in the zone of 30000-29800.
  • 29700 PE is having highest OI @7.1 Lakh, strong support at 29700 followed by 29600.29000-31000 PE added 9.2 Lakh OI so bulls making strong support in the range of 29600-29700.

Buy above 29900 Tgt 29999,30078 and  30150  (Bank Nifty Spot Levels)

Sell below 29779 Tgt 29692,29606 and 29530  (Bank Nifty Spot Levels)

Upper End of Expiry : 30191.45

Lower End of Expiry : 29530.85

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