Bank Nifty 21 April Weekly Expiry Analysis

As discussed is Last Analysis We have seen impact of gann date with Astro date. Today was the important gann date as shown below and we have touched the gann angle suggesting we might has done price time squaring, and can see relief rally till we are holding 35937. Bulls need to move above 36494 for a move towards 36684/36874/37063. Bears will get active below 36305 for a move towards 36115/35926/35777. Bears were able to do 1 target on downside, We also formed inside bar pattern. Now Bulls need to move above 36494 for a move towards 36684/36874/37063. Bears will get active below 36305 for a move towrds 36115/35926/35800.

Intraday time for reversal can be at 9:15/10:01/10:51/1:40/2:07/2:44 How to Find and Trade Intraday Reversal Times

Bank Nifty March Future Open Interest Volume is at 22.2 lakh with liquidation of 0.44 Lakh contract , with increase in Cost of Carry suggesting SHORT positions were closed today.

Now watch for 35937 for a move of 729-1008 move.

The Option Table data indicates decent support at 36000 and reasonable resistance at 36800. There is total OI of 48.62 Cores on the Call side and 6.38 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.

MAX Pain is at 36500 and PCR @0.924 Rollover cost @36128 closed above it and Rollover % @58.8 lowest in last 3 month.

The defining aspect of the data is the equity volumes. No buying there at all. Now, is this rally induced to flush shorts or genuine FnO buying happened – is what we have to look at. We will get further clues in the next few days. HDFC BANK is playing the spoilsport.

“The Market Doesn’t Give a Damn What You Think, about your economic or political views. Trade what the market is doing, not what you’d like it to do in your wildest fantasies.”

For Positional Traders Trend Change Level is 37468 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 36418 will act as a Intraday Trend Change Level.