Bank Nifty Analysis as Saturn goes in Opposition

By | July 21, 2020 12:51 am
  • As discussed in last analysis  Monday is an important Astro date so we should see a trending move. Bulls need to move above 22000 for a move towards 22170/22370/22500. Bears will get active below 21870 for a move back to 21640/21400. Bank Nifty opened with a gap up, As today is an important Astro Date break of High and low of today will guide us for 350-500 points in bank nifty. Bulls need to move above 22340 for a move back to 22570/22800. Bears will get active below 22110 for a move back to 21870/21640.

  • Bank Nifty July Future Open Interest Volume is at 14.9 lakh with addition of 0.27 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @21720 closed above it.
  • 22500 CE is having highest OI @10 Lakh resistance at 22500 followed 23000.20000-23000 CE added 24 Lakh in OI so bears added position in the zone of 21500-22000.
  • 21500 PE is having highest OI @12 Lakh, strong support at 21800 followed by 21500.20000-23000 PE added 24 Lakh OI so bulls making support in the range of 21800-22000.

Buy Above 22400 Tgt 22500,22676 and 22830 (Bank Nifty Spot Levels)

Sell Below 22170 Tgt 22040,21900 and  21750 (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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