Bank Nifty Weekly F&O Expiry Analysis Explained

By | October 13, 2021 7:35 pm

As discussed in Last Analysis High made was 38610 so Bulls were able to do 2 target on upside and we were able to close above Saturn Astro date high now waiting for target of 38729/38857/39000. Bears will get active below 38225 for a move back to 37960/37800. Bulls were able to do 1 target on upside but bank nifty is underperforming as compared to Nifty and reason for that in Saturn as it  has very less impact on Bank Nifty , Next week we have Jupiter Ingress so Bank Nifty outperformance will be seen. Infy and Wipro came with good set of numbers so it can put some pressure on bank nifty. Till Bulls are holding 38500 rally can be seen towards 38857/38976. Bears will have chance below 38362 for a move towards 38222/38100.  Friday is trading holiday. 

  • Bank Nifty Oct Future Open Interest Volume is at 16.6 lakh with addition of 0.47 Lakh contract , with decrease in Cost of Carry suggesting  SHORT positions were added today.
  • For Swing Traders Once Bank Nifty closed above 38377 we can see move towards 38855/39304 as per gann cycle. Waiting for 38855 till we are holding 38377. High made today was 38779 and today we have formed a bearish ABCD pattern with PRZ Zone at 38976 so range of 38879-38976 is crucial zone unable to cross that pullback will be seen till 38377/38100.  
  • MAX Pain is at 38500 PCR at 0.88, Price has closed above  38522 upper end of Rollover range Bullish sign,
  • The Option Table data indicates decent support at 38300 and reasonable resistance at 39000.
  • For Positional Traders Stay long till we are holding Trend Change Level 37967 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 38733 will act as a Intraday Trend Change Level. 

Buy Above 38650 Tgt 38775, 38900 and 39040 (Bank Nifty Spot Levels)

Sell Below 38499 Tgt 38362, 38222 and 38040 (Bank Nifty Spot Levels)

Upper End of Expiry : 38961

Lower End of Expiry : 38310

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