Bank Nifty corrects 400 points below Astro Date low

By | July 30, 2019 11:24 pm
  • As Discussed in Last Analysis  Till we are holding 29100 we can see a rally towards 29274/29446/29532. Bears will get active below 29070 for a move towards 28901/28763. Yesterday high and low very important. Below 28100 break of astro time cycle low we did 28763. 28500 is strong support for the bank nifty, below than we can see fall towards 28100. Bank Nifty bulls need a close above 28900 for a move back to 29100/29225/29400. Bears will get active below 28700 for a move towards 28510/28350/28100

  • Bank Nifty July Future Open Interest Volume is at 16.6 lakh with addition of 2.83 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29286  closed above it.
  • 29500 CE is having highest OI @1.3 Lakh resistance at 29500  followed 30000. 28000-30000 CE added 0.80 Lakh in OI so bears added position in the zone of 29500-30000.
  • 28500 PE is having highest OI @4.5 Lakh, strong support at 28500 followed by 28300.28000-29000 PE added 1.37 Lakh OI so bulls making strong support in the range of 28000-28500.

Buy above 28900 Tgt 29020,29554 and  29666 (Bank Nifty Spot Levels)

Sell below 28679 Tgt 28594,28510 and 28368 (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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