Bank Nifty Trading Levels for 03 Jan

  • As discussed in Last Analysis As we have weekly Expiry tomorrow and any break of 32050 can see fall towards our 2 target of 31900. Bulls will get active above 32200 for a move back to 32350/32555/32768. Low made was 32121 and above 32200 bulls were active and did our 1 target of 32350. Now till we are holding 32350 we can rally towards 32555/32768. Bears will get active below 32300 for a move back to 32150/32042.

  • Bank Nifty Jan Future Open Interest Volume is at 12.9 lakh with liquidation of 0.07 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @32425 closed above it.
  • 32500 CE is having highest OI @3.8 Lakh resistance at 32500  followed 32700.31000-33000 CE added 9 Lakh in OI so bears added position in the zone of 32500-32700.
  • 32000 PE is having highest OI @4.5 Lakh, strong support at 32200 followed by 32000.31000-32500 PE added 16 Lakh OI so bulls making support in the range of 32000-32000.

Buy above 32470 Tgt 32555,32666 and  32768 (Bank Nifty Spot Levels)

Sell below 32333 Tgt 32222,32111 and 32041 (Bank Nifty Spot Levels)

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