Bank Nifty EOD Analysis for 14 Feb

  • As discussed in Last Analysis  Now we have Weekly Expiry tomorrow Bank Nifty Bulls till holding 31400 can rally towards 31588/31666/31778. Bears will get active below 31370 for a move back to 31225/31100. Bears were able to do 1 target on downside below 31370. Now as we have Weekly closing tomorrow Bears have upper hand till we are below 31415 and can push index towards 31060/30990. Bulls will get active above 31430 for a move back to 31600/31800.

  • Bank Nifty Jan Future Open Interest Volume is at 12.8 lakh with addition of 0.74 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @30990 closed above it.
  • 31500 CE is having highest OI @5.2 Lakh resistance at 31500  followed 31800.30000-32000 CE added 18 Lakh in OI so bears added position in the zone of 31300-31500.
  • 31000 PE is having highest OI @3.2 Lakh, strong support at 31000 followed by 30800.30000-32000 PE added 10 Lakh OI so bulls making support in the range of 31000-30800.

Buy above 31300 Tgt 31410,31525 and  31666 (Bank Nifty Spot Levels)

Sell below 31180 Tgt 31060,30885 and 30600 (Bank Nifty Spot Levels)

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