Bank Nifty fall 500 point as Mercury Change Sign

By | April 20, 2019 9:17 am
  • As Discussed in Last Analysis Now Bulls need to close above 30600 for up move to continue towards 30700/30816/30960/31080. Bears will get active below 30380 for a move back to 30240/30096. Bank Nifty opened with a gap up made high of 30669 and corrected showing the effect of Mercury change, and did our target mentioned on twitter on downside.Now Bulls need to go above 30225 for a move back to 30396/30522/30700. Bears will get active below 30140 for a move back to 30018/29900. As per Gann Cycle 30700 is a strong zone of resistance big breakout would be seen above that only.

  • Bank Nifty April Future Open Interest Volume is at 19.1 lakh with liquidation of 1.56 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29967.
  • 30500 CE is having highest OI @8.6 Lakh resistance at 30500 followed 30700.  29000-31000 CE added 8.2 Lakh in OI so bears added in the zone of 30600-30800.
  • 30000 PE is having highest OI @6 Lakh, strong support at 30000 followed by 29800.29000-31000 PE added 6.8 Lakh OI so bulls making strong support in the range of 30000-30200.

Buy above 30350 Tgt 30450,30538 and  30669 (Bank Nifty Spot Levels)

Sell below 30140 Tgt 30050,29920 and 29817 (Bank Nifty Spot Levels)

Follow on Twitter:

Follow on Facebook

Youtube Channel:

Category: astro bank nifty technicals

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.

Leave a Reply