Bank Nifty Oct Expiry Analysis

  • As discussed in Last Analysis  Now Bulls need to hold 29750 for the upmove to continue towards 30100/30300. Bears will get active below 29700 for a move back to 29500/29300/29100. Low made was 29753 so bulls held on to 29750 and did 30100 on upside excellent move caught by gann again. Now today being expiry bulls need to close above 30100 for a move back to 30272/30447. Bears will become active below 29900 for a move back to 29776/29565.

  • Bank Nifty Nov Future Open Interest Volume is at 6.1 lakh with addition of 1.3 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @30213  closed below it.
  • 30000 CE is having highest OI @5 Lakh resistance at 30000  followed 30300.28000-31000 CE liquidated 3Lakh in OI so bears covered position in the zone of 29300-29500.
  • 29500 PE is having highest OI @3.4 Lakh, strong support at 29500 followed by 29300.27000-30000 PE added 4Lakh OI so bulls making support in the range of 28800-29000.

Buy above 30100 Tgt 30185,30272 and  30359 (Bank Nifty Spot Levels)

Sell below 29900 Tgt 29776,29565 and 29400 (Bank Nifty Spot Levels)

Upper End of Expiry : 30248

Lower End of Expiry : 29726

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