Bank Nifty Ready for Big Move

By | April 14, 2020 7:37 am
  • As discussed in last analysis  Now bulls need to move above 20000 for a move back to 20200/20464/20736. Bears will get active below 19600 for a move towards 19321/19050/18769. 19321 done below 19600 , Now as we have Mercury Ingress today and also near gann angle resistance which generally lead to big move in Index so we should see big move in Next 2 days. bulls need to move above 19600 for a move back to 19887/20100/20324/20555. Bears will get active below 19250 for a move towards 19000/18650.

  • Bank Nifty April Future Open Interest Volume is at 10.8 lakh with liquidation of  Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @17939 closed above it
  • 21000 CE is having highest OI @8  Lakh resistance at 21000 followed 21500.19000-21000 CE added 14 Lakh in OI so bears added position in the zone of 19500-20000.
  • 18000 PE is having highest OI @8 Lakh, strong support at 18500 followed by 18000.17000-19000 PE added 20 Lakh OI so bulls making support in the range of 18000-19000.

Buy above 19555 Tgt 19800,20100 and  20300 (Bank Nifty Spot Levels)

Sell below 19225 Tgt 19000,18800 and 18630  (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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