Bank Nifty Analysis for 16 April

By | April 16, 2021 7:57 am
  • As Discussed in Last Analysis  Now as we will see a gap up open tommrow Bulls need to hold 32001 for a move towards 32354/32666/32999. Bears below 31880 can see quick fall towards 31615/31460/31304/31150. Tommrow first 15 mins High and low will decide the trend for the day as we have important moon astro date today. Bears were able to do 2 target on downside and bulls were able to close above 32001. Now Bulls need to hold 32001 for a move towards 32385/32666/32830. Bears below 31880 can see quick fall towards 31615/31460/31304/31150.

  • Bank Nifty April Future Open Interest Volume is at 18.9 lakh with addition  of 2 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @33759 closed below it.
  • 33000 CE is having highest OI @19.1 Lakh resistance at 32500 followed 33000.33000-35000 CE added 17.2 Lakh in OI so bears added position in the zone of 33000-34000.
  • 31500 PE is having highest OI @15.3 Lakh, strong support at 31500 followed by 32000 .31000-32000 PE added 28.3 Lakh OI so bulls making support in the range of 31300-31500.

Buy Above 32201 Tgt 32323,32555 and 32680 (Bank Nifty Spot Levels)

Sell Below 31999 Tgt 31902,31796 and 31610 (Bank Nifty Spot Levels)

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