Bank Nifty Trade Set up for 21 April

By | April 21, 2020 12:54 am
  • As discussed in last analysis  20 April is an important astro date,Bulls need to move above 20736 for a move back to 21000/21150/21316.Bears need a close below 20280 for a move back to 20000/19881/19600. 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 April Future Open Interest Volume is at 11.3 lakh with addition of 0.24 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @17939 closed above it
  • 22000 CE is having highest OI @7 Lakh resistance at 21500 followed 22000.20000-22000 CE added 9 Lakh in OI so bears added position in the zone of 21500-22000.
  • 19500 PE is having highest OI @8 Lakh, strong support at 19500 followed by 19000.17000-19000 PE added 20 Lakh OI so bulls making support in the range of 19000-19500.

Buy above 20610 Tgt 20750,20920 and  21122  (Bank Nifty Spot Levels)

Sell below 20400 Tgt 20270,20050 and 19850 (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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