Bank Nifty Weekly Expiry Analysis

  • As discussed in last analysis As per time cycle as discussed in below video bank nifty should see a trending move in next 2 days.Bank Nifty bulls need to move 17585 for a move towards 17783/18000/18200. Bears will get active below 17500 for a move towards 17200/17031/16900. Astro cycle worked again and we got the big move as per our expectation  and bulls did 18000 above 17585. As we have weekly expiry tommrow Bulls need to move above 17956 for a move towards 18100/18225. Bears need a close below 17700 for a move back to 17500/17300.

  • Bank Nifty May Future Open Interest Volume is at 12.6 lakh with liquidation of 1 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @20762 closed below it
  • 18000 CE is having highest OI @3.6 Lakh resistance at 18000 followed 18500.18000-20000 CE added 18 Lakh in OI so bears added position in the zone of 18000-18500.
  • 17500 PE is having highest OI @4.2 Lakh, strong support at 17500 followed by 17300.17000-20000 PE added 14 Lakh OI so bulls making support in the range of 17500-17300.

Buy Above 17900 Tgt 18000,18092 and 18225 (Bank Nifty Spot Levels)

Sell Below 17750 Tgt 17650,17505 and  17300  (Bank Nifty Spot Levels)

Upper End of Expiry : 18174

Lower End of Expiry : 17505

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