Venus Ingress Impact on Bank Nifty

By | May 10, 2021 9:37 pm
  • As Discussed in Last Analysis Now Bulls need to move above 32900 for move towards 33040/33160/33333. Bears will get active below 32760 for move towards 32610/32400/ 32222. Today we have Venus Ingress suggesting another big move should be seen in next 2 trading sessions after series of DOJI’s in Bank Nifty. Bulls need to move above 33170 for a move towards 33284/33425/33555/33729. Bears below 33000 can see quick fall towards 32886/32745/32555.

  • Bank Nifty April Future Open Interest Volume is at 15 lakh with addition of 0.73 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @33146 closed below it.
  • 33500 CE is having highest OI @11 Lakh resistance at 33300 followed 33500.32500-33500 CE added 17.2 Lakh in OI so bears added position in the zone of 32500-33000.
  • 32000 PE is having highest OI @9 Lakh, strong support at 32500 followed by 32000 .32000-32500 PE added 12.9 Lakh OI so bulls making support in the range of 32000-32500.

Buy Above 33163 Tgt 33284,33400 and 33555 (Bank Nifty Spot Levels)

Sell Below 33100 Tgt 33014, 32886 and 32745 (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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