Bank Nifty Monthly Expiry Analysis

By | May 26, 2021 10:56 pm
  • As Discussed in Last Analysis We have Total Lunar Eclipse  suggesting another big move will be seen in next 2 trading sessions. Bulls need a close above 34729 for a move back to 34888/35055/35400. Bears will get active below 34610 for a move back to 34000/34180/34020. Bulls did 1 target on upside and bears got whipsawed,We will see effect of Total Lunar Eclipse tommrow so be ready of explosive expiry. Bears will get active below 34610 for a move back to 34470/34305/34140. Bulls will get active above 34777 for a move back to 34900/35065/35225.

  • Bank Nifty June  Future Open Interest Volume is at 11.9  lakh with addition of 5 Lakh, with decrease in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @33146 closed above it.
  • 35000 CE is having highest OI @19.8 Lakh resistance at 35000 followed 35300.34000-35000 CE added 22.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 34000 PE is having highest OI @13.3 Lakh, strong support at 34000 followed by 34500 .34000-35000 PE added 16 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 34700 Tgt 34900,35062and 35225 (Bank Nifty Spot Levels)

Sell Below 34610 Tgt 34470, 34305 and 34150 (Bank Nifty Spot Levels)

Upper End of Expiry : 35062

Lower End of Expiry :  34305

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