Mercury Retrograde Impact on Bank Nifty

By | May 28, 2021 8:58 am
  • As Discussed in Last Analysis Bulls did 1 target on upside and bears got whipsawed,We will see effect of Total Lunar Eclipse tommrow so be ready of explosive expiry. Bears will get active below 34610 for a move back to 34470/34305/34140. Bulls will get active above 34777 for a move back to 34900/35065/35225. We did not get the expolsive expiry but bulls were able to do all 3 target upside,Bears got Stopped out below 34610. Today we have  Mercury – Venus Declination and Tommrow Mercury goes retrograde so strong trending move will be seen in next 2 trading sessions. Bears will get active below 34923 for a move back to 34700/34471/34250. BUlls will get active above 35225 for a move back to 35367/35639/36000.

  • Bank Nifty June  Future Open Interest Volume is at 17.1  lakh with addition of 5.2 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @34885 closed above it.
  • 35500 CE is having highest OI @19.8 Lakh resistance at 35500 followed 36000.35000-36000 CE added 12.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 34000 PE is having highest OI @13.3 Lakh, strong support at 34500 followed by 34000 .34000-35000 PE added 6 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35225 Tgt 35370,35525 and 35636 (Bank Nifty Spot Levels)

Sell Below 35020 Tgt 34875, 34676 and 34555 (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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