Bank Nifty Weekly Expiry Analysis

  • As Discussed in Last Analysis Now Bulls need to break 34000 for the rally to continue till 34225/34444/34666. Bears below 33623 can see a quick decline towards 33440/33257/33000. We have monthly, quaterly and Financial Year closing tommrow expect good move after 2:14 PM. Bears were able to do 2 target on downside and we are back to gann angle support as today being the last trading session on the week as Friday is again a trading holiday. Bulls need to move above 33410 for a quick move towards 33525/33667/33800 on upside. Bears below 33150 can see a quick downmove towards 33050/32788. As New Financial Year is starting I Wish all the readers THE BEST. Learn from your mistakes and start your fresh Journey for the Profitable Year ahead !!! 

  • Bank Nifty April Future Open Interest Volume is at 24 lakh with addition of 0.89 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @33759 closed above it.
  • 33500 CE is having highest OI @10  Lakh resistance at 33500 followed 34000.33000-35000 CE added 14 Lakh in OI so bears added position in the zone of 33500-34000.
  • 33000 PE is having highest OI @9.8 Lakh, strong support at 33000 followed by 32500 .33000-34000 PE added 3.3 Lakh OI so bulls making support in the range of 33000-32500.

Buy Above 33410 Tgt 33525,33667 and 33800 (Bank Nifty Spot Levels)

Sell Below 33150 Tgt 33046,32944 and 32788 (Bank Nifty Spot Levels)

Upper End of Expiry : 33663

Lower End of Expiry : 32944

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