Bank Nifty crash 1000 points as Sun Ingress shows Effect

By | April 21, 2020 11:37 pm
  • As discussed in last analysis  We have sun ingress today and break of today high and low can easily give 500-700 points in bank nifty. Bulls need to move above 20700 for a move back to 21000/21150/21316.Bears need a close below 20400 for a move back to 20250/20000/19881/19683. Bank Nifty opened with a gap down and we saw the effect of Sun Ingress, with bank nifty seeing a fall of 1000 points. Bulls need to move above 19600  for a move back to 19881/20164/20400.Bears need a close below 19200 for a move back to 18900/18769/18500.

  • Bank Nifty April Future Open Interest Volume is at 13.2 lakh with addition of 1.9 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @17939 closed above it
  • 20000 CE is having highest OI @7 Lakh resistance at 20000 followed 20500.18000-20000 CE added 9 Lakh in OI so bears added position in the zone of 20000-20500.
  • 19000 PE is having highest OI @8 Lakh, strong support at 19000 followed by 18500.17000-19000 PE added 12 Lakh OI so bulls making support in the range of 19000-19300.

Buy Above 19470 Tgt 19570,19780 and 19900 (Bank Nifty Spot Levels)

Sell Below 19300 Tgt 19150,19000 and  18872  (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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