Bank Nifty Forms DOJI before Time Cycle Date

By | October 22, 2019 8:41 pm
  • As discussed in Last Analysis  Now Bulls need a close above 29250 for rally to continue till 29500/29666/29800. Bears will get active below 29070  for a move back to 28900/28700/28500. 29666 done, Now We have formed DOJI at gann angle resistance zone, As we have important time cycle date tomorrow so we should be ready for big move in bank nifty.Bulls need a close above 29450 for rally to continue till 29584/29750/29929. Bears will get active below 29240 for a move back to 29071/28900.

  • Bank Nifty Oct Future Open Interest Volume is at 12.5  lakh with liquidation of 0.41 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @30213  closed below it.
  • 29500 CE is having highest OI @3.2 Lakh resistance at 29500 followed 30000.28000-31000 CE liquidated 0.8 Lakh in OI so bears covered  position in the zone of 29300-29500.
  • 28500 PE is having highest OI @3.5 Lakh, strong support at 28800  followed by 28500.27000-30000 PE added 2.6 Lakh OI so bulls making support in the range of 28800-29000.

Buy above 29450 Tgt 29600,29750 and  29900 (Bank Nifty Spot Levels)

Sell below 29350 Tgt 29230,29100 and 28900 (Bank Nifty Spot Levels)

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Category: Bank Nifty Astrology

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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