Bank Nifty Weekly Expiry Analysis

• As Discussed in Last Analysis Today we have Venus Ingress suggesting another big move should be seen in next 2 trading sessions after series of DOJI’s in Bank Nifty. Bulls need to move above 33170 for a move towards 33284/33425/33555/33729. Bears below 33000 can see quick fall towards 32886/32745/32555. We opened gap down as we saw the impact of Venus Ingress and  bears got entry at 33000 and did 1 target on downside and now waiting for the target of 32745/32555 Bulls need to move above 32900 for a move towards 33147/33400.

• Intraday time for reversal can be at 9:25/10:45/11:55/12:29/1:25/2:01/2:45  How to Find and Trade Intraday Reversal Times

• Bank Nifty April Future Open Interest Volume is at 17.7 lakh with addition of 1.26 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @33146 closed below it.

• 33000 CE is having highest OI @10.5Lakh resistance at 33300 followed 33300.32500-33500 CE added 27.2 Lakh in OI so bears added position in the zone of 32500-33000.

• 32000 PE is having highest OI @12Lakh, strong support at 32500 followed by 32000 .32000-32500 PE added 22.9 Lakh OI so bulls making support in the range of 32000-32500.

• Bank Nifty Futures Trend Deciding level is 32989 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 32962 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy Above 32900 Tgt 33000,33140 and 33300 (Bank Nifty Spot Levels)

Sell Below 32800 Tgt 32714, 32610 and 32350 (Bank Nifty Spot Levels)

Upper End of Expiry : 33213

Lower End of Expiry : 32531