Bank Nifty Ready for Big Move

By | April 24, 2020 1:02 am
  • As discussed in last analysis  Bulls need to move above 19810  for a move back to 19950/20143/20400.Bears need a close below 19510 for a move back to 19250/19051/18900. 2 target done above 19810,Tomorrow important astro date suggesting big move round the corner, Bulls need to move above 20400 for a move back to 20555/20841.Bears need a close below 20040 for a move back to 19900/19790/19683

  • Bank Nifty April Future Open Interest Volume is at 12.8 lakh with liquidation of 0.01 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @17939 closed above it
  • 20500 CE is having highest OI @7 Lakh resistance at 20500 followed 20800.19000-21000 CE added 11 Lakh in OI so bears added position in the zone of 20000-20300.
  • 19000 PE is having highest OI @11 Lakh, strong support at 19500 followed by 19000.18000-20000 PE added 2 Lakh OI so bulls making support in the range of 19500-19800.

Buy Above 20360 Tgt 20550,20800 and 21000 (Bank Nifty Spot Levels)

Sell Below 20040 Tgt 19900,19782 and  19683  (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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