BankNifty Spot closes at 54,290.20, by adding 1172.45 points to its previous close. BankNifty had slightly higher open than its previous close of 53,117.75, it managed to trade in positive and then had huge upward rally. BankNifty managed to close in positive for 4th consecutive session.
BankNifty Current Month (April) Future Open Interest decreased by 1,46,070. However May month Future Open Interest increased by 1,55,370. June Month Future Open Interest increased by 34,350. Which indicates that April month future positions are rolled over to May month. Fresh Long position being seen built in May and June Month Future contracts.
April, May ,June Month contracts had Highest High and Highest Close. If in the next day that is on 21.Apr.2025, if BankNifty trades in positive, then still more upside can be expected.
Strategy of BankNifty Trading on 21.Apr.2025
Trade Long in BankNifty-Fut and BankNifty Call Options if BankNifty trades in positive. If BankNifty trades in Negative then avoid trading.
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