Weekly F&O Expiry:BANK Nifty Analysis

By | October 6, 2021 8:19 pm

As discussed in Last Analysis   Bulls were able to close above  37648 now waiting for 37840/37937/38035. 3 important astro events are happening tommrow  Mars YOD Uranus Key Turning Point Uranus effects short term prices when in aspect to inner planets and Moon Conjunct Mars and Pluto is changing sign to Capricorn they should have good Impacts on Market. Swing Shorts can be initiated below 37555 for a move towards 37225/37053.All Bullish target were done above 37648 and we also saw the impact of Mars created havoc in market. Now Bulls need to move above 37645 for a move towards 37742/37840/37937/38034. Bears will get active below 37398 for a move towards 37302/37205/37109/37013.

  • Bank Nifty Oct Future Open Interest Volume is at 18.9 lakh with addition of 0.12 Lakh contract , with increase in Cost of Carry suggesting  LONG positions were added today.
  • Last Expiry happned on 37425 and today we have closed at 37521 still trading above expiry level tommrow if we start trading below 37400 for 30 mins we can see a fast decline.
  • MAX Pain is at 37600 PCR at 0.9, Rollover Price is at 37993 closed below it and OI Breakout zone 37850 closed below it
  • The Option Table data indicates decent support at 37300 and reasonable resistance at 37800.
  • For Positional Traders Stay long till we are holding Trend Change Level 37659 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 37897 will act as a Intraday Trend Change Level. 

Buy Above 37610 Tgt 37729, 37861 and 38000 (Bank Nifty Spot Levels)

Sell Below 37450 Tgt 37323, 37225 and 37060 (Bank Nifty Spot Levels)

Upper End of Expiry : 37861

Lower End of Expiry : 37181

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