Bank Nifty give big move on Astro Date

By | October 7, 2019 7:46 am
  • As Discussed in Last Analysis   As we have RBI Policy outcome by 11:45 tomorrow and today we had mercury ingress suggesting good move on cards.  Bank Nifty Bulls need to close above 28777 for a move back to 29000/29225/29500. Bears will get active below 28400 for a move back to 28240/28100/27800. High made was 29730 so bulls unable to break 28777 and bears once below 28400 did all 3 target on downside. Astro date combined with price helped us in capturing the whole move, Now Bulls need to 27840 to be back in game 28000/28100/28370. Bears will get active below 27650 for a move back to 27500/27250/27100.

  • Bank Nifty Oct Future Open Interest Volume is at 16.4  lakh with addition of 0.58 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @30213  closed below it.
  • 29000 CE is having highest OI @3 Lakh resistance at 28500 followed 29000.28000-31000 CE added 3.5 Lakh in OI so bears added position in the zone of 28300-28500.
  • 27500 PE is having highest OI @1.8 Lakh, strong support at 27800  followed by 27500.27000-30000 PE added 1.3 Lakh OI so bulls making support in the range of 27500-27800.

Buy above 27900 Tgt 28100,28300 and  28500 (Bank Nifty Spot Levels)

Sell below 27650  Tgt 27555,27376 and 27200 (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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