Bank Nifty Weekly Expiry Analysis

• As discussed in Last Analysis  Bank Nifty formed an Inside bad today,Plan remains the same Bulls need to move above 31550 for a move back to 31750/31940. Bears will get active below 31100 for a move back to 30900/30700. Low made was 30996 so bears were unable to reach target of 30900. We have formed a GARTLEY pattern in Bank Nifty suggesting if we hold 31200 we can rally back to 31500. Bears will get active below 31150 for a move back to 31000/30850.
  

• Intraday time for reversal can be at  9:30/10:49/12:51/2:39 How to Find and Trade Intraday Reversal Times

• Bank Nifty Dec Future Open Interest Volume is at 13.3  lakh with liquidation of 1 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @31829 closed below it.

• 32000 CE is having highest OI @7.4 Lakh resistance at 31500  followed 32000.30000-32000 CE added 1 Lakh in OI so bears added position in the zone of 31800-32000.

• 31000 PE is having highest OI @5.6 Lakh, strong support at 31000 followed by 30800.30000-32000 PE added 0.97 Lakh OI so bulls making support in the range of 31000-31100.

• Bank Nifty Futures Trend Deciding level is 31263 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 31705 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level . 

Buy above 31300  Tgt 31397,31520 and  31695 (Bank Nifty Spot Levels)

Sell below 31180 Tgt 31060,30950 and 30855 (Bank Nifty Spot Levels)

Upper End of Expiry : 31471

Lower End of Expiry : 31041

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