Bank Nifty Time Cycle shows big move coming

By | May 2, 2019 9:53 pm
  • As Discussed in Last Analysis Now Bulls need to move above 29930 for a move 30068/30225. Bears will get active below 29740 for a move back to 29570/29380. Good  Move should be seen in next 2 days based on Astro Dates. High made today was 29920 so bulls were unable to break 29930 and bears were able to close below 29740 so waiting for target of 29610/29376.Bulls need to move above 29930 for a move 30068/30225.  How Comfortable you are with your trading ?

  • Bank Nifty May Future Open Interest Volume is at 16.5 lakh with liquidation of 0.82 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29964 closed above it.
  • 30000 CE is having highest OI @1.6 Lakh resistance at 30000 followed 30300.  29000-31000 CE added 0.78 Lakh in OI so bears added in the zone of 30000-30300.
  • 29500 PE is having highest OI @2.1 Lakh, strong support at 29600 followed by 29500.29000-31000 PE added 0.34 Lakh OI so bulls making strong support in the range of 29600-29500.

Buy above 29760 Tgt 29850,29930 and  30050 (Bank Nifty Spot Levels)

Sell below 29640 Tgt 29585,29499 and 29410 (Bank Nifty Spot Levels)

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Category: Daily

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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