Bank Nifty Cracks on Astro Date,EOD Analysis

By | December 8, 2019 12:26 pm
  • As discussed in Last Analysis  Low made was 31628 so bears waiting for the target of 31500/31324. Bulls will get active above 31820 for a move back to 31978/32067.As per time cycle we should see a good move in next 2 trading sessions. Bulls got whipsawed above 31820 and bears once below 31628 did all target on downside.Astro Time cycle rocked again as we got the big move as per our expectation.Now Bears need a move below 31250 for move towards 31100/30850. Bulls have chance only above 31500 for a move back to 31750/31900.

  • Bank Nifty Dec Future Open Interest Volume is at 14.8  lakh with liquidation of 1.4 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @31829 closed below it.
  • 32000 CE is having highest OI @5 Lakh resistance at 32000  followed 32200.30000-32000 CE added 13 Lakh in OI so bears added position in the zone of 32000-32300.
  • 31000 PE is having highest OI @48 Lakh, strong support at 31000 followed by 30800.30000-32000 PE liquidated 5 Lakh OI so bulls making support in the range of 31200-31000.

Buy above 31400  Tgt 31490,31610 and  31730 (Bank Nifty Spot Levels)

Sell below 31250 Tgt 31100,31000 and 30860 (Bank Nifty Spot Levels)

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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