Weekly F&O Expiry:BANK Nifty Analysis

• As discussed in last analysis  Bank nifty opened with gap up and did 1 target with gap and also closed above important range of 35158-35193 now waiting for target of 35343/35528/35713. Bears below 35030 for a move back to 34876/34688/34555. Jupiter goes Ingress tommrow so should see firework in Bank Nifty. Bank Nifty bulls were able to do 1 target on upside and bears were able to do 1 target on downside in last 30 min sell off we have seen. As we have last expiry of 2021 so bulls would like to move above 35150 for a move towards 35323/35500. Bears below 34900 can see fast fall towards 34777/34610. 

• Intraday time for reversal can be at 9:15/10:41/11:32/1:50/2:54 How to Find and Trade Intraday Reversal Times

• Bank Nifty Jan Future Open Interest Volume is at 16 lakh with addition of 4.1 Lakh contract , with decrease in Cost of Carry suggesting  LONG positions were closed today.

• MAX Pain is at 35100 and PCR @ 1.01.

• The Option Table data indicates decent support at 34800 and reasonable resistance at 35300.There is total OI of 3.7 Cores on the Call side and 4.2 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are  in BULLISH zone.

• 35193 should be watched very closely tommrow as this level give 1000+ point move.– Another day unable to close above 35193.

• Bank Nifty has been stuck in the range of 34300-35200 for almost 6 trading sessions and this range should get broken today or tommrow as Jupiter which is Ruling Plannet of Bank Nifty will create range expansion. — Unable to break the range. 

• For Positional Traders Trend Change Level is 35030 on Futures and go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 35193 will act as a Intraday Trend Change Level. 

Buy Above 35080 Tgt 35200, 35343 and 35500 (Bank Nifty Spot Levels)

Sell Below 35030 Tgt 34876, 34747 and 34666 (Bank Nifty Spot Levels)

Upper End of Expiry : 35343

Lower End of Expiry :  34747

As always I wish you maximum health and trading success