Nifty Bank Analysis for 19 March

By | March 18, 2021 8:51 pm
  • I was not able to update for few days,Words can not express our thoughts. We are so very fortunate to know and have the relationships of each and every one of you. As discussed in below video we saw the bank nifty price time squaring on 11 and saw big fall. Now today we have important astro date so we can see relief rally in next 2 trading sessions. Bulls need to move above 33970 for a move back to 34071/34178/34400/34545/34800. Bears will get active below 33729 for a move back to 33600/33424/33200/33000. 

  • Bank Nifty March Future Open Interest Volume is at 15 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @35984 closed below it.
  • 34000 CE is having highest OI @2.6  Lakh resistance at 34000 followed 35000.34000-36000 CE added 6.2 Lakh in OI so bears added position in the zone of 34000-35000.
  • 34000 PE is having highest OI @5.1 Lakh, strong support at 34000 followed by 33000 .34000-36000 PE added 3 Lakh OI so bulls making support in the range of 33000-33500.

Buy Above 33965 Tgt 34071,34178 and 34333 (Bank Nifty Spot Levels)

Sell Below 33729 Tgt 33600,33424 and 33201 (Bank Nifty Spot Levels)

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