Monthly F&O Expiry:BANK Nifty Analysis

By | November 24, 2021 11:20 pm
  • As Discussed in Last Analysis  Bank nifty made a double bottom and saw a decent rally and bulls once above 37235 did our 1 target of 37448, High made today was exactly 37448 :). Today Important bayers rule got activated which is Bayer Rule 6: The price is in bottom when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees. So once we move above todays high 37450 rally can contiue till 37598/37743/37924. Bears will get active below 37040 for a move towards 36797/36647/36500. Almost 3 target also done as we moved above 37450 but intraday voaltality kicked in, price unable to breach the gann angle as shown in below chart we closed just below 37450. Now Bulls need to move above 37565 for a move towards 37809/38000. Bears will get active below 37249 for a move towards 37030/36870.

  • Remember, the people in pain, will be subjected to more pain during expiry. So, this month, bulls are in pain, and there might be more pain for them on expiry. As Last Month Expiry was at 39508 and now we are trading at 37441  For this assumption to change, look for a move above 37500 which is max pain level.
  • Bank Nifty Nov Future Open Interest Volume is at 14.8 lakh with addition of 5.1 Lakh contract , with decrease in Cost of Carry suggesting  SHORT positions were added today.
  • MAX Pain is at 37500 and PCR is in the neutral zone of 0.95
  • The Option Table data indicates decent support at 37000 and reasonable resistance at 37500
  • For Positional Traders Stay short till we are below Trend Change Level 37544 on Futures and go long above it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 37621 will act as a Intraday Trend Change Level. 

Buy Above 37490 Tgt 37600, 37777 and 37900 (Bank Nifty Spot Levels)

Sell Below 37310 Tgt 37213, 37117 and 37000 (Bank Nifty Spot Levels)

Upper End of Expiry : 37777

Lower End of Expiry : 37107

As always I wish you maximum health and trading success

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