Bank Nifty Analysis after Volatile Expiry

  • As discussed in Last Analysis   No Major movement seen but bulls were able to clsoe above 32500 now waitng for 32786/32900/33050. Bears below 32225 for a move back to 32040/31850/31650. 32786 watchout for this number as and when it hits this levels 1000 points move will be seen either side. 32786 done and we got the big move once we started trading below 32786, and we are back to gann angle support. Gann Number always give an added advantage and specially on expiry day can give big money in small time. Now Bulls need to break 32424 for a move back to 32666/32786/32900. Bears below 32040 can see fall back to 31850/31666/31500.

  • Bank Nifty Jan Future Open Interest Volume is at 15.1 lakh with addition of 0.80 Lakh, with increase in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @31230 closed above it.
  • 32500 CE is having highest OI @11.9 Lakh resistance at 32500 followed 32800.31000-33000 CE added 18.3 Lakh in OI so bears added position in the zone of 32800-33300.
  • 32000 PE is having highest OI @10.6 Lakh, strong support at 32000 followed by 31800 .31000-32000 PE added 7.2 Lakh OI so bulls making support in the range of 31500-31800.

Buy Above 32265 Tgt 32400,32555 and 32690 (Bank Nifty Spot Levels)

Sell Below 32040 Tgt 31900,31750 and 31500 (Bank Nifty Spot Levels)

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