Annular Solar Eclipse 2020:Bank Nifty Analysis

By | June 20, 2020 7:35 am
  • As discussed in last analysis We saw the effect of Astro date.Now Bull need to move above 21030 for a move back to 21170/21400/21640. Bears will get active below 20720 for a move back to 20480/20260/20050. Bulls were able to do 2 target on upside, Bulls now need to hold range of 21150-21220 for the upmove towards 21500/21666/21900. Bears need to get below 21000 for a move back to 20750/20500.Price are back to gann angle resistance and with Solar Eclipse be prepared for volatile move in coming week.

  • Bank Nifty May Future Open Interest Volume is at 18.2  lakh with liquidation of 1.73 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @18001 closed above it
  • 21500 CE is having highest OI @14 Lakh resistance at 21500 followed 22000.19000-22000 CE added 18.4 Lakh in OI so bears added position in the zone of 21000-21500.
  • 20500 PE is having highest OI @12 Lakh, strong support at 20500 followed by 20300.19000-22000 PE added 14 Lakh OI so bulls making support in the range of 20000-20500.

Buy Above 21300 Tgt 21420,21555 and 21721 (Bank Nifty Spot Levels)

Sell Below 21225 Tgt 21100,20970 and  20800 (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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