Bank Nifty Weekly Expiry Analysis

  • As discussed in Last Analysis Now as we have formed DOJI near Astro date so we should see trending move in next 2 trading session. Bulls need to move above 36170 for a move back to 36342/36461/36700. Bears below 35870 can see quick fall towards 35529/35154. We got a big move on downside but saw an equal recovery also, 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.

  • Bank Nifty Feb  Future Open Interest Volume is at 15.1 lakh with liquidation of 0.63 Lakh, with increase 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 20.3 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 12 Lakh OI so bulls making support in the range of 34500-35000.

Buy Above 35830 Tgt 36000,36197 and 36400 (Bank Nifty Spot Levels)

Sell Below 35666 Tgt 35400,35225 and 35000 (Bank Nifty Spot Levels)

Upper End of Expiry : 36231

Lower End of Expiry : 35334

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