Bank Nifty crashes 17% as Venus at Perihelion shows Effect

By | March 24, 2020 7:28 am
  • Bank Nifty saw the biggest fall ever falling 3300 points or 17% in the history of Indian Market.As I have discussed in last analysis we have an important astro date which is Venus at Perihelion which always lead to big move in market and we saw it. Today we have another astro event when mercury is at its highest elongation which tend to lead to trend change for short term, Bank Nifty bulls now need to move above 17576 for a move back to 18000/18496. Bears will get active below 16790 for a move back to 16500/16100.

  • Bank Nifty April Future Open Interest Volume is at 2.67 lakh with addition of 0.54 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @30428 closed below it.
  • 19000 CE is having highest OI @28  Lakh resistance at 19000  followed 19500.18000-21000 CE added 31 Lakh in OI so bears added position in the zone of 18000-19000
  • 16000 PE is having highest OI @8 Lakh, strong support at 160000 followed by 15500.15000-18000 PE added 11 Lakh OI so bulls making support in the range of 15000-16000.

Buy above 17226 Tgt 17534,17843 and  18100  (Bank Nifty Spot Levels)

Sell below 16790 Tgt 16666,16400 and 16100  (Bank Nifty Spot Levels)

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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