Technical Analysis,
Weekly Chart, Banknifty Form a bearish Candle on Weekly Chart the Low of that candle is 22970. So if Banknifty is not breaking this low then we are mostly sideways once it Breaks this Level then the 1st Support will be 22250 and if it breaks that also then 2nd Support will be 21800.
Daily Chart, On Thursday Banknifty, firmed a bearish candle whose low is 22970 and high is 24087 once this high or low will break that will decide the trend of the bank nifty downside break possibility is more once it breaks then 1st will be 22250 which is Fibonacci 0.5 Level And If it breaks that then 21800 level. For upside Resistance 24200 will be Strong Resistance.

Data Point Analysis,
Put Side, 23000 Has Highest Open Interest which is more than 6.5lakh and has Highest Change in Open Interest which is more than 2.5lakh 22500, has 2nd Highest Open Interest which is more than 4.4lakh and has Highest Change in Open Interest which is more than 1.4lakh
21500, has 3rd Highest Open Interest which is more than 4.4lakh and has the Highest Change in Open Interest which is more than 2.5lakh.
Call Side, 24000 Has Highest Open Interest which is more than 7.2lakh and has the Highest Change in Open Interest 2.1 lakh.
24500, has 2nd Highest Open Interest which is more than 6.1lakh and has the Highest Change in Open Interest which is more than 2.5lakh.
PCR Value is 0.88 which is bearish Indication
By Concluding Datapoint and technical analysis this week Bank nifty Range will be 21500-24200
Level Expecting Banknifty to Trade Between this Level.
Hope This Analysis Will help you,
Thank You,
Research By,
Suraj Kaushal.

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