Bank Nifty Dec Expiry Analysis

  • As discussed in Last Analysis  As we have Sun Trine Uranus as discussed in below video suggesting we should see good move in market. Plan remains the same Till we are holding 32200 we can rally till 32500/32768. Bears have there chance below 32150 for a move back to 31968/31887/31710/31621/31532. We have traded in small range on Tuesday formed NR7 pattern suggesting big move should be seen soon. Plan remains the same Till we are holding 32200 we can rally till 32500/32768. Bears have there chance below 32150 for a move back to 31968/31887/31710/31621/31532.

  • Bank Nifty Jan Future Open Interest Volume is at 8.9 lakh with addition of 2.9 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @31829 closed above it.
  • 32500 CE is having highest OI @8.9 Lakh resistance at 32500  followed 32800.31000-33000 CE added 5 Lakh in OI so bears added position in the zone of 32500-32800.
  • 32000 PE is having highest OI @8.9 Lakh, strong support at 32000 followed by 31800.31000-32500 PE liquidated 1.3 Lakh OI so bulls making support in the range of 32000-32200.

Buy above 32320 Tgt 32400,32500 and  32610  (Bank Nifty Spot Levels)

Sell below 32220 Tgt 32150,32076 and 31920 (Bank Nifty Spot Levels)

Upper End of Expiry : 32477

Lower End of Expiry : 32084

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