Bank Nifty EOD Analysis for 17 April

  • As discussed in last analysis We have weekly expiry tommrow Bulls need to move above 19200 for a move 19480/19683/19900. Bears will get active below 18913 for a move back to 18776/18500/18225. 1 target done on both upside and downside and price again stopped at gann angle resistance.As we have weekly closing bull need to move above 19525 for a move back to 19683/19881/20100. Bears will get active below 19200 for a move back to 19111/18900/18700.

  • Bank Nifty April Future Open Interest Volume is at 13.1 lakh with addition of 0.63 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @17939 closed above it
  • 20000 CE is having highest OI @5  Lakh resistance at 20000 followed 20300.19000-20000 CE added 9 Lakh in OI so bears added position in the zone of 19500-20000.
  • 18000 PE is having highest OI @3.3 Lakh, strong support at 18500 followed by 18000.17000-19000 PE added 3 Lakh OI so bulls making support in the range of 18000-18500.

Buy above 19525 Tgt 19683,19881 and  20100 (Bank Nifty Spot Levels)

Sell below 19200 Tgt 19044,18895 and 18700  (Bank Nifty Spot Levels)

 

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