Bank Nifty Trading Plan for 29 Jul

By | July 28, 2020 10:23 pm
  • As discussed in last analysis  Bank Nifty broke the Mercury Elongation low of 22 July 22658 and as discussed we got the 500-800 points move low made was 22801, so Astro Rocked again. Now Bulls need to move above 22110 for a move back to 22340 and  22570. Bears will get active below 21800 for a move back to 21400/21100/20940. Bears got whipsawed below 21800 and bulls unable to close above 22110. As we are near gann angle support Bulls need to move above 22150 for a move back to 22340 and  22570. Bears will get active below 21920 for a move back to 21750/21400/21100/20940.

  • Bank Nifty Aug Future Open Interest Volume is at 4.6 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting lomg positions were added today. Bank nifty Rollover cost @21720 closed above it.
  • 23000 CE is having highest OI @16 Lakh resistance at 22500 followed 23000.21000-23000 CE added 14 Lakh in OI so bears added position in the zone of 21500-22000.
  • 21500 PE is having highest OI @22 Lakh, strong support at 21500 followed by 21000.21000-23000 PE added 22 Lakh OI so bulls making support in the range of 21800-22000.

Buy Above 22150 Tgt 22250,22355  and 22500 (Bank Nifty Spot Levels)

Sell Below 22020 Tgt 21920,21750 and 21500 (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.

Leave a Reply