Bank Nifty Feb Expiry Analysis

  • As discussed in Last Analysis Low made was 30329 so bears will waiting for 30260/30090. 30090 is important GANN Number so if we hold this level we can see rally back to 30500/30600 after gap down, Unable to hold this fall can extend towards 29900/29500. Today Mercury is going in Inferior Conjunction very important day. Bank Nifty is near gann angle support also bounced near 30090 yesterday also as per Astro cycle we should see big move of 300-500 points in bank nifty in next 2 trading days. Bulls will get active above 30400 for a move back to 30515/30632/30800. Bears will get active below 30200 for a move back to 30090/29900/29721/29500.

  • Bank Nifty Feb Future Open Interest Volume is at 6.1 lakh with liquidation of 2.5 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @30990 closed below it.
  • 30500 CE is having highest OI @10 Lakh resistance at 30500  followed 30700.30000-32000 CE added 220  Lakh in OI so bears added position in the zone of 30700-30500.
  • 30000 PE is having highest OI @11 Lakh, strong support at 30000 followed by 29900.30000-32000 PE liquidated 15 Lakh OI so bulls making support in the range of 30000-30100.

Buy above 30323 Tgt 30485,30721 and  30810 (Bank Nifty Spot Levels)

Sell below 30250 Tgt 30120,30000 and 29900 (Bank Nifty Spot Levels)

Upper End of Expiry : 30596

Lower End of Expiry : 30017

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