Bank Nifty Weekly Expiry Analysis

By | April 21, 2021 11:01 pm
  • As Discussed in Last Analysis  Monday Mercury at Superior Conjunction so again big move will be seen in next 2 trading sessions.  Bulls now need to move above 32071 for a move towards 32231/32484/32666. Bears below 31880 can see quick fall towards 31615/31460/31304/31150. We got the big move as per expectation as per Mercury at Superior Conjunction, Now Bears need to break 31000 for a quick move towards 30890/30758/30666. Bulls need to move above 31200 for a move towards 31311/31525/31729. 

  • Bank Nifty April Future Open Interest Volume is at 16.4 lakh with addition of 0.42 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @33759 closed below it.
  • 31100 CE is having highest OI @10.7 Lakh resistance at 31100 followed 31300.31000-31500 CE added 17.2 Lakh in OI so bears added position in the zone of 31000-31500.
  • 30800 PE is having highest OI @16.5 Lakh, strong support at 30800 followed by 30600 .30500-30800 PE added 18.3 Lakh OI so bulls making support in the range of 30500-30800.

Buy Above 31180 Tgt 31300,31444 and 31599 (Bank Nifty Spot Levels)

Sell Below 30888 Tgt 30760,30666 and 30450(Bank Nifty Spot Levels)

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