Bank Nifty rallies holding Astro Date Low

By | May 11, 2019 7:25 am
  • As Discussed in Last Analysis Also tomorrow being an important astro date  we can see trend reversal in Bank nifty if we hold today low of 28784. Bulls can rally towards 29030/29125/ 29261. Bank Nifty did 29200 so we did the trend reversal today,till we are holding 28900 we can continue rally towards 29296/29381/29467. Bears will get active below 28850 for a move back to 28766/28682/29597/28512.  THE MOST NEGLECTED TRADING DISCIPLINE

  • Bank Nifty May Future Open Interest Volume is at 15.7 lakh with liquidation of 1.5 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29964 closed below it.
  • 29500 CE is having highest OI @2.3 Lakh resistance at 29200 followed 29500.  28000-31000 CE added 1.8 Lakh in OI so bears added in the zone of 29300-29500
  • 28500 PE is having highest OI @5.3 Lakh, strong support at 28500 followed by 28300.29000-31000 PE liquidated 2 Lakh OI so bulls making strong support in the range of 28300-28500.

Buy above 29080 Tgt 29196,29296 and  29381 (Bank Nifty Spot Levels)

Sell below 28980 Tgt 28900,28766 and 28682 (Bank Nifty Spot Levels)

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Category: Bank Nifty Astrology

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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