Bank Nifty Sep Expiry Analysis

  • As Discussed in Last Analysis Now Bulls need a close above 30300 for upmove to continue towards 30544/30672/30800. Bears will get active below 30050 for a move back to 29900/29791/29600. 29600 done so bears were able to do all target below 30050. We have monthly expiry today and we are back to gann angle support so above 29710 bulls will get active for a move back to 29000/30200. Bears will get active below 29450 for a move back to 29250/29100.

  • Bank Nifty Sep Future Open Interest Volume is at 6.9  lakh with addition of 1.5 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27807 closed above it.
  • 30000 CE is having highest OI @4.8 Lakh resistance at 29800 followed 30000.30000-31000 CE added 2.2 Lakh in OI so bears added position in the zone of 29800-30000.
  • 29500 PE is having highest OI @4.9 Lakh, strong support at 29500  followed by 293000.29000-30000 PE added 10 Lakh OI so bulls making support in the range of 29400-29500.

Buy above 29710 Tgt 29836,30000 and  30200 (Bank Nifty Spot Levels)

Sell below 29470 Tgt 29350,29225 and 29100 (Bank Nifty Spot Levels)