Nifty Bank Technical Analysis and Insights for Weekly Expiry

  • As discussed in Last Analysis We have explained the importance of astro date of last few days, Plan remains the same Bears need to break 35100 for a move back to 34875/34525/34152. Bulls above 35300 can see quick move towards 35598/35729/35968. Low made today was 35544 so bulls opened above 35300 unable to give chance to enter, For Tommrow 35937 will be an important number to watch, Bulls need to move above 35937 for a quick move towards 36100/36350/36600. Bears need to break 35800 for a move back to 35581/35300/35100.

  • Bank Nifty March Future Open Interest Volume is at 14 lakh with liquidation of 1 Lakh, with decrease in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @35984 closed below it.
  • 36000 CE is having highest OI @12 Lakh resistance at 36000 followed 36500.36000-38000 CE added 24.9 Lakh in OI so bears added position in the zone of 36000-37000.
  • 35000 PE is having highest OI @13 Lakh, strong support at 35000 followed by 34500 .35000-36000 PE added 23 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35920 Tgt 36050,36199 and 36362 (Bank Nifty Spot Levels)

Sell Below 35799 Tgt 35666,35581 and 35325 (Bank Nifty Spot Levels)

Upper End of Expiry : 36280

Lower End of Expiry : 35450

Leave a Reply