Bank Nifty Weekly Expiry Analysis

  • As Discussed in Last Analysis  Now we have an important astro date today, Bulls need to move above 22900 for the upmove to continue towards 23104/23400/23666. Bears below 22801 for a move back to 22651/22500/22351. 22651 done below 22801 and bulls were able to close above 22900 now waitng for 23131/23300/23555. Bears will get active below 22822 for a move back to 22700/22555/22400. 

  • Bank Nifty Oct Future Open Interest Volume is at 14.5 lakh with liquidation of 0.20 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @21225 closed above it.
  • 23000 CE is having highest OI @12 Lakh resistance at 23000 followed 23300.21000-23000 CE added 12 Lakh in OI so bears added position in the zone of 22800-23100
  • 22500 PE is having highest OI @12 Lakh, strong support at 22500 followed by 2280.22000-23000 PE added 15 Lakh OI so bulls making support in the range of 22500-23000.

Buy Above 23050 Tgt 23131,23298 and 23555 (Bank Nifty Spot Levels)

Sell Below 22910 Tgt 28222,22703 and 22500 (Bank Nifty Spot Levels)

Upper End of Expiry : 23206

Lower End of Expiry : 22723

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