Bank Nifty Weekly Expiry Analysis

By | April 7, 2021
  • As Discussed in Last Analysis  Now Bulls need to move above 32680 for a move back to 32888/33100/33285. Bears will get active below 32333 for a move back to 32223/32100/31940/31800. We are completing important time cycle on 08 April so expect market to reamin voaltile till than. Till we do not close above Mercury Ingress High its Sell on Rise Market. It was a volatile day with RBI policy still bulls were able to do 2 target on upside and bears 1 target on downside and intrady levels shared on Twitter worked perfectly, Based on Time Cycle we are in for a 1051 points move in Bank Nifty in next 2 trading session, Bulls need to move above 33201 for a move towards 33462/33717/33980/34243. Bears will get active below 32883 for a move back to 32666/32357/32100/31800.

  • Bank Nifty April Future Open Interest Volume is at 19.3 lakh with liquidation of 0.88 Lakh, with increase in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @33759 closed below it.
  • 33500 CE is having highest OI @9.7  Lakh resistance at 33500 followed 34000.33000-35000 CE added 10.9 Lakh in OI so bears added position in the zone of 33500-34000.
  • 32000 PE is having highest OI @13.4 Lakh, strong support at 32000 followed by 31500 .32000-34000 PE added 26 Lakh OI so bulls making support in the range of 32000-32500.

Buy Above 33040 Tgt 33190,33400 and 33643 (Bank Nifty Spot Levels)

Sell Below 32880 Tgt 32775,32666 and 32555 (Bank Nifty Spot Levels)

Upper End of Expiry : 33348

Lower End of Expiry : 32643

One thought on “Bank Nifty Weekly Expiry Analysis

  1. PS Hariharan

    Brameshji. Thanks so much. Your BN Levels are awesome and I ended up on winning trades. Thanks once again. Hariharan. Mumbai

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