Bank Nifty Analysis as Mercury goes Ingress

By | April 4, 2021 7:37 am
  • As Discussed in Last Analysis Bulls need to move above 33410 for a quick move towards 33525/33667/33800 on upside. Bears below 33150 can see a quick downmove towards 33050/32788.  All Bullish target done on upside once price traded above 33410, We have imporant astro date coming tommrow Mercury Ingress so we should see the effect on Monday. Bulls need to move above 34000 for a move back to 34135/34400/34666. Bears below 33765 can see quick fall towards 33578/33394/33100.

  • Bank Nifty April Future Open Interest Volume is at 20.4 lakh with liquidation of 3.5 Lakh, with increase in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @33759 closed above it.
  • 34500 CE is having highest OI @13  Lakh resistance at 34500 followed 35000.33000-35000 CE added 14 Lakh in OI so bears added position in the zone of 33500-34000.
  • 33000 PE is having highest OI @12.8 Lakh, strong support at 33000 followed by 32500 .33000-34000 PE added 13.3 Lakh OI so bulls making support in the range of 33000-32500.

Buy Above 34000 Tgt 34135,34300 and 34412 (Bank Nifty Spot Levels)

Sell Below 33765 Tgt 33672,33578 and 33400 (Bank Nifty Spot Levels)

Category: Bank Nifty Astrology

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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