Bank Nifty Chart Analysis for Weekly Expiry

  • As Discussed in Last Analysis   All Bullish target done as we have Important  Astro and Gann date sugesting another 500 points move coming once yesterday high or low is broken.Bulls need to move above 29250 for a move back to 29372/29555/29700. Bears will get active below 28970 for a move back to 28856/28531/28340. We got the 500 points move as per expectation once 29250 was taken out, Now watch out for 29781 very important levels for 1000 points move in bank nifty in next 2 trading sessions based on Gann Price Time Squaring. Bulls need a close above 2781 for a move back to 30004/0258/30732. Bears below 29640 can see fall towards 29530/29420/29280/29000

  • Bank Nifty Nov Future Open Interest Volume is at 18.2 lakh with addition of 0.12 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24264 closed above it.
  • 30000 CE is having highest OI @12 Lakh resistance at 30000 followed 30300.28000-30000 CE added 10.1 Lakh in OI so bears added position in the zone of 29000-29500
  • 29500 PE is having highest OI @10.1 Lakh, strong support at 29500 followed by 29200.28000-29000 PE added 22 Lakh OI so bulls making support in the range of 29000-29300.

Buy Above 29800 Tgt 29920,30047 and 30250 (Bank Nifty Spot Levels)

Sell Below 29640 Tgt 29530,29420 and 28276 (Bank Nifty Spot Levels)

Upper End of Expiry : 30047

Lower End of Expiry : 29452

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