Weekly F&O Expiry:BANK Nifty Analysis

By | January 6, 2022 1:20 am
  • As discussed in last analysis   Low made was 36374 so bears unable to break 36280, and Bulls once above 36470 did 2 target on upside and now till we are holding 36770 rally can extend towards 37034/37214. Bears will have chance below 36630 for a move towards 36513/36187/36000.  All Bullish target done and we have discussed in below video how this big rallly can be caught using gann and astrology. Bank nifty 37807-37924 range longs should lighten off and take some money off the table.  Fresh Long only on close above 38000 for a move towards 38120/38300/38666. Bears will get active below 37555 for a move towardds 37309/37100.

  • Bank Nifty Jan Future Open Interest Volume is at 22 lakh with liquidation of 0.15 Lakh contract , with increase in Cost of Carry suggesting  LONG positions were added today.
  • MAX Pain is at 37400 and PCR @ 0.86. Rollover cost @35213 closed above it. 
  • The Option Table data indicates decent support at 37000 and reasonable resistance at 38000.There is total OI of 2.20 Cores on the Call side and 3.3 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are  in BULLISH zone.
  • December series had a maximum roll-overs of around 16.7 Lakh contracts in last 4 days of trading . The BNF was trading in the range between 34425-35548. Whenever, the price band is approached, expect some violent reactions. — Closed at 35628 and today gave bumper rally. 
  • We will have Weekly,Monthly,Quaterly,Yearly closing tommrow its a rare event , Bank Nifty is  up by just 12.2 % for the whole year. Bulls would like to close in range of 35295-35527 for a good begining in New Year 2022.– Closed at 35481 and today gave bumper rally. 
  • For Positional Traders Trend Change Level is 36271 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 37570 will act as a Intraday Trend Change Level. 

Buy Above 36729 Tgt 37862, 37999 and 38120 (Bank Nifty Spot Levels)

Sell Below 37565 Tgt 37438, 37309 and 37200 (Bank Nifty Spot Levels)

Upper End of Expiry : 38035

Lower End of Expiry : 37355

As always I wish you maximum health and trading success

Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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