Bank Nifty EOD Analysis for 13 April

    •  As discussed in last analysis  Now bears need to break 18465 for a move towards 17956/17689/17424. Bulls need a close above 19100 for a move back towards 19400/19800/20100. Bank Nifty did 2 target on upside, and now bulls need to move above 20000 for a move back to 20200/20464/20736. Bears will get active below 19600 for a move towards 19321/19050/18769.

  • Bank Nifty April Future Open Interest Volume is at 11.2 lakh with addition of 1.43 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @17939 closed above it
  • 21000 CE is having highest OI @5  Lakh resistance at 21000 followed 21500.19000-21000 CE added 11 Lakh in OI so bears added position in the zone of 19500-20000.
  • 18000 PE is having highest OI @5 Lakh, strong support at 18500 followed by 18000.17000-19000 PE added13 Lakh OI so bulls making support in the range of 18000-1900.

Buy above 20001 Tgt 20210,20501 and  20800  (Bank Nifty Spot Levels)

Sell below 19666 Tgt 19390,19166 and 18900  (Bank Nifty Spot Levels)

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