BANK Nifty Monthly Expiry Analysis

By | September 29, 2021 8:37 pm

As discussed in Last Analysis Tommrow is important reversal date as per vedic astrology so watch out for first 15 mins high and low to ride the trend. Bulls need to move above 38025 for a move towards 38163/38358/38555. Bears will have chance below 37890 for a move towards 37791/37694/37597. Bank Nifty opened with gap down but as discussed first 15 mins high and low was important it broke the high and rallied on upside,also formed inside bar candel As we have expiry tommrow and Half yearly closing also last hour should be volatile. Now Bulls need to move above 37758 for a move towards 37855/37953/38050. Bears will have chance below 37631 for a move towards 37535/37438/37341. 

  • Bank Nifty Oct Future Open Interest Volume is at 14.3 lakh with addition of 7 Lakh contract , with decrease in Cost of Carry suggesting  LONG positions were added today.
  • Will we have the NAV management for half yearly management ? Will global cues prevail up on us? “So, the violence might increase – and wild moves might start appearing – but I do not see a clear direction appearing to the market till we start trading on 04 Oct.
  • MAX Pain is at 37800 PCR at 0.9 suggesting bears are having upper hand now.
  • The Option Table data indicates decent support at 37500 and reasonable resistance at 38000.
  • For Positional Traders Stay long till we are holding Trend Change Level 37027 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 37738 will act as a Intraday Trend Change Level. 

Buy Above 37758 Tgt 37855, 37953 and 38050 (Bank Nifty Spot Levels)

Sell Below 37631 Tgt 37535, 37438 and 37341 (Bank Nifty Spot Levels)

Upper End of Expiry : 38115

Lower End of Expiry : 37371

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