Can Banknifty Show 300 Points Rally ?

Interpretation of Banknifty Open Interest Data:


Banknifty has a maximum Open Interest on Call side is  7.77 Lakh at Strike Price 30000  & maximum Open Interest on Put side is  8.69 Lakh at Strike Price 29500.
So Upper side 30000 is resistance  &  29500 is strong support

+3.28 Lakh OI increase at 29500 PE. Banknifty Weekly expiry has difficult to close below 29500.

BankNifty closed at 29767. High made 29799 and Low 29547


Daily CandleBullish on the Daily Chart

Banknifty 15 Min Darwas Box chart : 




Banknifty On the Daily chart, Bullish candle was made. 

Darvas Box high 29835 and low 29372. 29835 is Vedic number if banknifty stay above 29835 for 15 min then will show rally of 300 Points.

Strategy 

Intraday Banknifty Spot:

Buy above 29835 Target   29916  29997  30078 30159


Sell below 29673 Target  29592  29520  29448  29376  

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