Weekly F&O Expiry:BANK Nifty Analysis

By | September 22, 2021 8:29 pm

As Discussed in Last Analysis We formed Long Legged DOJI, Till Bank Nifty is below 37335 we can see fall towards 36566.  Fresh Swing Shorts can be taken below 37131 for a move towards 36886/36641/36396. Swing Longs only above 37376 for a move back to 37621/37866/38000.High made was 37328 so bears protected 37335 and were rewarded as low made was 36886 almost 2 target done. Now Bears need to break 36864 for a move towards 36610/36428/36300. Bulls will get active above 37110 for a quick move towards 37220/37444.

  • Bank Nifty Sep Future Open Interest Volume is at 20.1 lakh with addition of 0.68 Lakh, with increase in Cost of Carry suggesting  SHORT positions were added today.
  • Remember, the people in pain, will be subjected to more pain during expiry. So, this Week , bulls are in pain, and there might be more pain for them on expiry day. As last week close was 37668 and we today closeed at 36944 so bears are having upper hand.Break of Last Expiry low of 36907 can lead to big decline tommrow as being Autumnal Equinox  and Venus in Oppostion wtih Uranus.
  • MAX Pain is at 37000 PCR has slightly increased from 0.93 to 0.99 approaching the crucial zome of 1
  • The Option Table data indicates decent support at 36500 and reasonable resistance at 37000. 
  • For Positional Traders Stay long till we are holding Trend Change Level 36784 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 37169 will act as a Intraday Trend Change Level. 

Buy Above 37000 Tgt 37107, 37220 and 37444 (Bank Nifty Spot Levels)

Sell Below 36888 Tgt 36777, 36610 and 36343 (Bank Nifty Spot Levels)

Upper End of Expiry : 37264

Lower End of Expiry : 36626

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