July Month F&O Expiry: Bank Nifty Analysis

By | July 28, 2021 8:13 pm
  • As Discussed in Last Analysis  Now Tommrow Jupiter is going Ingress in Aquaries so Bank will start outperforming Nifty and we can see good move again. Bears are waiting for the target of 34700/34450/34231. Bulls need to move above 34850 for a move back to 35001/35166/35371. All Bearish target done as we saw Impact of Jupiter Ingress, Today Low and High on Bank Nifty will be important till 28-Dec so mark them on the chart and see the beauty of Astro till 28 Dec. Tommrow we have a important aspect of  Mercury Opposition Pluto HELIO which leads to turning point in market so another voaltile move coming. Now Bulls  need to move above 34671 for a move towards 34857/35044/35231. Bears will get active below 34465 for a move back to 34283/34098/33913/33729.

  • Bank Nifty August Future Open Interest Volume is at 15.1 lakh with addition of 6.5 Lakh, with increase in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @34909  closed below it.
  • 35000 CE is having highest OI @21.8 Lakh resistance at 35000 followed 35200 . 34500-36000 CE added 25.3 Lakh in OI so bears added position in the zone of 35000-35300.
  • 34000 PE is having highest OI @15.1 Lakh, strong support at 34300 followed by 34000 .34000-35000 PE added 22 Lakh OI so bulls making support in the range of 34000-34300.

Buy Above 34555 Tgt 34666, 34777 and 34888 (Bank Nifty Spot Levels)

Sell Below 34478 Tgt 34373, 34225 and 34100 (Bank Nifty Spot Levels)

Upper End of Expiry: 34777

Lower End of Expiry : 34288

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