Bank Nifty Weekly Expiry Analysis

By | June 23, 2021
  • As Discussed in Last Analysis  Bank Nifty opened with gap up and did 35220 on upside,did time correction after big rally yesterday and failed to closed above the Triple Ingress Day High. Bulls will get active above 34940  for a move towards 35075/35220/35555.  Bears will get active below 34721 for a move towards 34578/34432/33225. High made was 34937 so bulls unable to break 34940 and bears below 34721 did 1 target on downside waiting for the target of 34432/33225. Bulls will get active above 34731 for a move towards 34900/35040/35200.

  • Bank Nifty July Future Open Interest Volume is at 11.5 lakh with addition of 2.8 Lakh, with increase in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @34885 closed above it.
  • 35000 CE is having highest OI @12.6 Lakh resistance at 35000 followed 35500. 35000-36000 CE added 12.6 Lakh in OI so bears added position in the zone of 35000-35500.
  • 34000 PE is having highest OI @18.3 Lakh, strong support at 34000 followed by 33500 .34000-35000 PE added 7 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 34626 Tgt 34729, 34851 and 35000 (Bank Nifty Spot Levels)

Sell Below 34512 Tgt 34420, 34296 and 34150 (Bank Nifty Spot Levels)

Upper End of Expiry : 34851

Lower End of Expiry : 34296

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