Banknifty Vedic analysis for 3rd April

Interpretation of Banknifty Open Interest Data:


Banknifty has a maximum Open Interest on Call side is  3.80 Lakh at Strike Price 30500  Put side is  6 Lakh at 30000

So Upper side 30500 is resistance  &  30000 is support.

BankNifty closed at 30354. 

Daily Candle: Hammer on the Daily Chart. If tomorrow gap up opening and stay above 30500 then short covering will lead to bank nifty 31000 by weekly expiry.

Banknifty 1 Hour  Vedic chart : 

Banknifty Hourly Vedic Chart
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Banknifty Hourly Vedic Chart

Banknifty near 30350 support line. During the day it has taken support at 30150 exactly at support line in the chart.

Now it has to stay above 30500 on 15 min chart for 5 min , then further short covering may lead to the upper level.


Intraday Banknifty Spot levels for 3rd April:


Buy above 30420 Target  30510  30600  30690


Sell below 30240 Target  30159 30078 29997

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