Bank Nifty EOD Analysis for 20 April

  • As discussed in last analysis 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. 20 April is an important astro date,Bulls need to move above 20736 for a move back to 21000/21150/21316.Bears need a close below 20280 for a move back to 20000/19881/19600.

  • Bank Nifty April Future Open Interest Volume is at 11 lakh with liquidation of 2 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @17939 closed above it
  • 22000 CE is having highest OI @5  Lakh resistance at 21500 followed 22000.20000-22000 CE added 9 Lakh in OI so bears added position in the zone of 21500-22000.
  • 19500 PE is having highest OI @5 Lakh, strong support at 19500 followed by 19000.17000-19000 PE added 20 Lakh OI so bulls making support in the range of 19000-19500.

Buy above 20750 Tgt 20866,21000 and  21122  (Bank Nifty Spot Levels)

Sell below 20550 Tgt 20425,20300 and 20100  (Bank Nifty Spot Levels)

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