Bank Nifty Analysis for 27 Jan

  • As discussed in Last Analysis   Now Important level to watch out is 30909 on downside which is again a potential level for 500 points move either side.Bulls need to move above 31320 for a move back to 31472/31625/31786. Bears below 31099 for a move back to 30909/30786/30470. Bank NIfty saw a voaltile move during the day and made a lower low, we will open with gap down tommrow,Important level to watch out is 30909 on downside which is again a potential level for 500 points move either side.Bulls need to move above 31370 for a move back to 31555/31787/31987. Bears below 30900 for a move back to 30620/30500/30225.

  • Bank Nifty Feb  Future Open Interest Volume is at 6.5 lakh with liqudiation of 2.1 Lakh, with decrease in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @31230 closed below it.
  • 32000 CE is having highest OI @11.7 Lakh resistance at 31500 followed 32000.30000-33000 CE added 18.3 Lakh in OI so bears added position in the zone of 32800-33300.
  • 31000 PE is having highest OI @8.8 Lakh, strong support at 31000 followed by 30500 .31000-32000 PE added 13.2 Lakh OI so bulls making support in the range of 31500-31800.

Buy Above 31250 Tgt 31355,31585 and 31729 (Bank Nifty Spot Levels)

Sell Below 31000 Tgt 30908,30786 and 30620 (Bank Nifty Spot Levels)

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