Bank Nifty crashes 700 points as Venus Ingress Shows Impact

By | May 13, 2021 7:24 pm
  • As Discussed in Last Analysis  We opened gap down as we saw the impact of Venus Ingress and  bears got entry at 33000 and did 1 target on downside and now waiting for the target of 32745/32555 Bulls need to move above 32900 for a move towards 33147/33400. We got the perfect Entry at Venus Ingress low on 11 May and we are down almost 650 points from that level completing all our target and traders who are carrying shorts will be rewarded with bonus points tommrow. As we have Jupiter Ingress today and today being holiday so effect will be seen tommrow,Jupiter is ruling plannet of bank nifty so we should see outperformance of bank nifty to nifty.  Range of 32287-32300 important support zone unable to hold this we can see fall extending towards 32040/31900 levels. Bulls will get active above 32550 for a move back to 32666/32900.

  • Bank Nifty April Future Open Interest Volume is at 13.5 lakh with addition of 0.91 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @33146 closed below it.
  • 33000 CE is having highest OI @4.6 Lakh resistance at 32800 followed 33000.32500-33500 CE added 11.5 Lakh in OI so bears added position in the zone of 32500-33000.
  • 32000 PE is having highest OI @3 Lakh, strong support at 32000 followed by 31500 .31000-32000 PE added 5.9 Lakh OI so bulls making support in the range of 31000-32000.

Buy Above 32290 Tgt 32450,32555 and 32682 (Bank Nifty Spot Levels)

Sell Below 32120 Tgt 32040, 31900 and 31729 (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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