Banknifty 28 March Expiry analysis - Weeklypaisa

Interpretation of Banknifty Open Interest Data:

Banknifty has a maximum Open Interest on Call side is  5.70 Lakh at Strike Price 30200  Put side is  4.40 Lakh at 30000

So Upper side 30200 is resistance  &  30000 is support.

BankNifty closed at 30019. 

Daily Candle: DOJI on the Daily Chart

Banknifty 1 Hour  Vedic chart : 

Banknifty Hourly Vedic Chart

As discussed in previous blog banknifty is struggling at support line of Vedic home 2.If it will break the support line then move towards next support line which comes at 28818. If support will not break then move towards resistance line at 29800.

Now banknifty near 30000 support line. if support line break, it may come near support of red line which is at 28800 to 29000 positional. If support hold then upper side 30159 may come.

Intraday Banknifty Spot levels for 28 March:

Buy above 30078 Target  30159  30240  30330

Sell below 29997 Target  29916 29835  29754

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