Weekly F&O Expiry:Bank Nifty Analysis

By | June 16, 2021
  • As Discussed in Last Analysis We formed bottom as price broke the days high of astro date and did 2 target on upside, Now for mometeum to continue on upside bulls need to break 35323 for a move towards 35444/35555/35666. Bears have there chance only below 35099 for a move towards 34951/34763/34610. Bulls again failed to give follow upmove above 35323 again got whipsawed, Bears got the chance did only 1 target on downside in slow moving market. Now Bears need to move below 34910 for a move back to  34819/34636. Bulls will get active above 35101 for a move towards 35225/35424/35610.

  • Bank Nifty June  Future Open Interest Volume is at 14.8 lakh with liqudiation of 0.31 Lakh, with decrease in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @34885 closed above it.
  • 35500 CE is having highest OI @28.6 Lakh resistance at 35500 followed 36000. 35000-36000 CE added 12.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 34500 PE is having highest OI @18.3 Lakh, strong support at 34500 followed by 34000 .34000-35000 PE added 27 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35051 Tgt 35148, 35283 and 35555 (Bank Nifty Spot Levels)

Sell Below 34910 Tgt 34820, 34729 and 34636 (Bank Nifty Spot Levels)

Upper End of Expiry : 35275

Lower End of Expiry : 34729

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