BANK Nifty Weekly Expiry Analysis

  






BANK Nifty Weekly Expiry Analysis – Bramesh’s Technical Analysis



















  • As Discussed in Last Analysis  It is very interesting to note that FII bought more options than what they sold and we have formed a compression pattern in bank nifty. That is another indication for me that a directional move is round the corner and a move of 500-800 points will be seen in single trading session. Bears got 2 target on downside and we saw the range expansion in bank nifty,Now Bank Nifty Bears need to break 35040 for a move towards 34900/34679/34395. Bulls will get active above 35212 for a move towards 35369/35555. We got the big move as per expectation based on data and astro date, Now we are at crucial jucture as we have solar eclipse and also mercury change in sign on 11 June suggesting one big move can be seen as multiple astro dates are coming.We are forming a SHARK pattern in bank nifty with PRZ Zone around 34500 which can act as good reversal point. Break of 34500 will lead to a fast decline towards 34225/34000.

  • Bank Nifty June  Future Open Interest Volume is at 17.4 lakh with liqudiation of 0.29 Lakh, with decrease in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @34885 closed above it.
  • 35500 CE is having highest OI @26.6 Lakh resistance at 35000 followed 35300. 35000-35500 CE added 22.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 34000 PE is having highest OI @28.3 Lakh, strong support at 345000 followed by 34000 .34000-35000 PE added 17 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 34874  Tgt 34999,35125 and 35250 (Bank Nifty Spot Levels)

Sell Below 34729 Tgt 34641, 34531 and 34323  (Bank Nifty Spot Levels)

Upper End of Expiry : 35069

Lower End of Expiry : 34531



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