BANK NIFTY Daily Technical Analysis

  • As discussed in Last Analysis Today being expiry  expect another volatile session.Bulls need to move above 35830  for a move back to 36000/36197/36400. Bears below 35666 can see quick fall towards 35400/35225/35000. Bulls were able to do 1 target on upsdie and bears got whipsawed, Tommrow is very Important astro date bulls were able to close above 35800 can see move towards 35983/36200/36400. Bears will get active below 35729 for a move back to 35555/35342/35200.

  • Bank Nifty Feb  Future Open Interest Volume is at 15.8 lakh with addition of 0.65 Lakh, with decrease in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @30980 closed above it.
  • 36500 CE is having highest OI @11.7 Lakh resistance at 36000 followed 36500.35000-37000 CE added 10.3 Lakh in OI so bears added position in the zone of 36000-36500.
  • 35000 PE is having highest OI @9.1 Lakh, strong support at 35000 followed by 34500 .34000-35000 PE added 22 Lakh OI so bulls making support in the range of 34500-35000.

Buy Above 35800 Tgt 35920,36090 and 36210 (Bank Nifty Spot Levels)

Sell Below 35729 Tgt 35650,35547 and 35343 (Bank Nifty Spot Levels)

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