Weekly F&O Expiry:BANK Nifty Analysis

  • As Discussed in Last Analysis   Gann Angle again acted as resistance. Now Bulls need to move above 35850 can see quick move towards 35998/36150/36333. Bears will get active below 35540 for a move towards 35193/35000/34790.  Low made was 35805 so bulls got entry and did all target on upside. As we have expiry tommrow and Neptune being an Outer Plannet has turned Direct today so once we are above 36450 we can see rally towards 36610/36774/36900. Bears will have chance below 36285 for a move back to 36125/35964.

  • VIX saw a fall today and we saw less voaltile range in bank nifty also options buying of FII was seen so we should see trending move in next 2 trading sessions.
  • Bank Nifty Nov Future Open Interest Volume is at 24.7 lakh with liquidation of 1.4 Lakh contract , with increase in Cost of Carry suggesting  SHORT positions were closed today.
  • MAX Pain is at 36300 and PCR is in the neutral zone of 0.91
  • The Option Table data indicates decent support at 36300 and reasonable resistance at 36800.
  • Bank Nifty has close above its 100 DMA today @ 36364 now close above 36450 will give a swing target of 37094.
  • For Positional Traders Trend Change Level is 36544 on Futures and go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 36274 will act as a Intraday Trend Change Level. 

Buy Above 36450 Tgt 36610, 36735 and 36845 (Bank Nifty Spot Levels)

Sell Below 36198 Tgt 36007, 35815 and 35623 (Bank Nifty Spot Levels)

Upper End of Expiry : 36735

Lower End of Expiry : 35995

As always I wish you maximum health and trading success

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