Bank Nifty Weekly Expiry Analysis

  • As discussed in Last Analysis  Bulls were able to close above 32300 and now waiting for the target of 32492/32768. Bears should watch out for Infosys results, Bank Nifty will move opposite to Infy reaction tommrow. Bears will get chance below 32040 for a move back to 31910/31725/31500. 32492 done and wating for final target of 32768. 32768 is an important number which should be watched out in next 2 days as we have Gann Important date tommrow as discussed in below video which can lead a potential price time squaring. Bulls need a close above 32790 for a move towards 32864/32943/33045/33136. Bears below 32512 can do 32412/32322/32142/32053.

  • Bank Nifty Jan Future Open Interest Volume is at 13.7 lakh with liquidation of 1.93 Lakh, with decrease in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @31230 closed above it.
  • 33000 CE is having highest OI @11.5 Lakh resistance at 32800 followed 33000.31000-33000 CE liquidated 5.3 Lakh in OI so bears covered position in the zone of 32500-33000.
  • 32000 PE is having highest OI @9.7 Lakh, strong support at 32300 followed by 32000 .30000-32000 PE added 19.2 Lakh OI so bulls making support in the range of 31800-32000.

Buy Above 32610 Tgt 32729,32821 and 32943 (Bank Nifty Spot Levels)

Sell Below 32505 Tgt 32415,32275 and 32149 (Bank Nifty Spot Levels)

Upper End of Expiry : 32943

Lower End of Expiry : 32149

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