Bank Nifty fall 800 points from Astro Cycle Reversal

By | April 4, 2019 8:34 pm
  • As Discussed in Last Analysis  As we have RBI Policy tomorrow so Bulls need to hold support zone,else we will see bigger correction setting in for 29500/29225. Low made was 28809 so we held the support zone of 28900-28800 and our intraday time cycle at 1:44 worked perfectly. Fresh shorts should be taken below 29780 for a move towards 29639/29553. Bull will get active above 30000 for a move back 30276/30400. Tomorrow is important time cycle date.

  • Bank Nifty April Future Open Interest Volume is at 19.5 lakh with liquidation of 0.34 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29967.
  • 30500 CE is having highest OI @3.7 Lakh resistance at 30000 followed 30200.  29000-31000 CE added 0.79 Lakh in OI so bears added in the zone of 30000-30300
  • 29500 PE is having highest OI @3.2 Lakh, strong support at 29800 followed by 29600.29000-31000 PE added 0.99 Lakh OI so bulls making strong support in the range of 29600-29800.

Buy above 30000  Tgt 30069 ,30156 and  30243 (Bank Nifty Spot Levels)

Sell below 29890 Tgt 29812,29725 and 29650 (Bank Nifty Spot Levels)

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