Bank Nifty Dec Monthly Expiry Range

  • As Discussed in Last Analysis Bank Nifty will be completing 1 gann cycle tommrow suggesting time for another big move and potential price time sqauring. Bulls need to move above 31360  for a move back to 31450/31584/31810. Bears below 31220 can move back to 31100/30900/30740. Bears were able to do 1 target on downside, we did not saw the big move as per expecation, possible we can see an explosive expiry. Now Bulls need to move above 31540 for a move back to 31777/31900, Bears below 31225 can see move back to 31036/30770. Bears need a close below 30999 for a positional short to be activated till than its buy on dips market.

  • Bank Nifty Jan Future Open Interest Volume is at 9.3 lakh with addition of 2.5 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29413 closed above it.
  • 31500 CE is having highest OI @18.8 Lakh resistance at 31500 followed 31700.31000-32000 CE added 18 Lakh in OI so bears added position in the zone of 31000-30200.
  • 31300 PE is having highest OI @14.6 Lakh, strong support at 31300 followed by 31000 .29000-31000 PE added 28 Lakh OI so bulls making support in the range of 31000-31200.

Buy Above 31350 Tgt 31450,31540 and 31776 (Bank Nifty Spot Levels)

Sell Below 31250 Tgt 31111,31020 and 30888 (Bank Nifty Spot Levels)

Upper End of Expiry : 31649

Lower End of Expiry :  30957

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