Bank Nifty Weekly Expiry Analysis

  • As discussed in last analysis  Bulls need to move above 19600  for a move back to 19881/20164/20400.Bears need a close below 19200 for a move back to 18900/18769/18500. Bears got whipsawed and bulls once above 19600 failed to do 1 target on upside so a day of whipsaw. As we have expiry tommrow Bulls need to move above 19810  for a move back to 19950/20143/20400.Bears need a close below 19510 for a move back to 19250/19051/18900.

  • Bank Nifty April Future Open Interest Volume is at 12.9 lakh with addition of 0.34 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @17939 closed above it
  • 20000 CE is having highest OI @7 Lakh resistance at 20000 followed 20300.19000-20000 CE added 11 Lakh in OI so bears added position in the zone of 20000-20300.
  • 19000 PE is having highest OI @10 Lakh, strong support at 19000 followed by 18500.18000-19000 PE added 22 Lakh OI so bulls making support in the range of 19000-19300.

Buy Above 19810 Tgt 19950,20143 and 20275  (Bank Nifty Spot Levels)

Sell Below 19610 Tgt 19520,19410 and  19260 (Bank Nifty Spot Levels)

Upper End of Expiry : 20143

Lower End of Expiry : 19260

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