BANK NIFTY Weekly Expiry Analysis

  • As discussed in Last Analysis  Bulls were able to do 1 target on upside and 1 target on downside. Now Bulls need to move above 37249 for a move back to 37443/37636/37831. Bears will get active below 37057 for a move back to 36864/36673/36481. Tommrow very important astro date which lead to trend change for few days, today bulls got whipsawed and bears were able to do 2 target on downside. Now As we have Weekly expiry combined with astro date so should see good move in bank nifty.Bulls will get active below 36960 for a move back to 37050/37225/37343. Bears below 36943 for a move back to 36729,36610 36525.

  • Bank Nifty Feb  Future Open Interest Volume is at 16.49 lakh with liquidation of 0.56 Lakh, with decrease in Cost of Carry suggesting LONG positions were CLOSED today. Bank nifty Rollover cost @30980 closed above it.
  • 37500 CE is having highest OI @12.1 Lakh resistance at 37500 followed 38000.36000-38000 CE added 29 Lakh in OI so bears added position in the zone of 37000-37500.
  • 36500 PE is having highest OI @12 Lakh, strong support at 36500 followed by 36000 .35000-37000 PE added 22 Lakh OI so bulls making support in the range of 35500-36000.

Buy Above 36960 Tgt 37047,37225 and 37326 (Bank Nifty Spot Levels)

Sell Below 36843 Tgt 36729,36610 and 36525 (Bank Nifty Spot Levels)

Upper End of Expiry : 37326

Lower End of Expiry : 36495

2 thoughts on “BANK NIFTY Weekly Expiry Analysis”

  1. Hello Sir,
    The levels you posted towards end of the post are always for SPOT basis. i am wondering what would be the stop loss. is it based on individual risk basis or 20-30 points for NF and 50-75 points for BNF?

    Moreover, if the buy sell level comes multiple times during the day, should we take trades multiple times or it is valid just for once.

    please confirm.

    Thanks,
    Raj..

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