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- As discussed in last analysis Todays High and low are important for next 1000 points move in bank nifty.Bank Nifty bulls now need to move above 17200 for a move back to 17400/17576/17850/18000. Bears will get active below 16790 for a move back to 16500/16200. All Bullish target done above 17200 and we saw the power of Astro Date of Mercury Elongation Now bulls need to 18496 for a move back to 18769/19044/19321. Bears will get active below 17956 for a move back to 17689/17424/17161.
- Bank Nifty April Future Open Interest Volume is at 4.69 lakh with addition of 1.33 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @30428 closed below it.
- 19000 CE is having highest OI @35 Lakh resistance at 19000 followed 19500.18000-21000 CE added 41 Lakh in OI so bears added position in the zone of 18000-19000
- 17000 PE is having highest OI @22 Lakh, strong support at 17000 followed by 16500.17000-18000 PE added 22 Lakh OI so bulls making support in the range of 17000-18000.
Buy above 18600 Tgt 18769,19000 and 19300 (Bank Nifty Spot Levels)
Sell below 18200 Tgt 17950,17680 and 17400 (Bank Nifty Spot Levels)
Upper End of Expiry : 19232
Lower End of Expiry : 17730