Bayer Rule Impact on Bank Nifty

By | July 13, 2021 8:34 pm
  • As Discussed in Last Analysis   High made was 34394 so bulls failed to rally above it and bears failed to fall below 35130, but were able to hold gann angles. We should see trending move in next 2 days based on astro dates in below video. Bulls need to move above 35400 for a move back to 35555/35729/35900. Bears will get active below 35040 for a move back to 34883/34729/34512.Low made was 35340 so bulls were able to make entry 35400 and did 2 target on upside and we got a trending move. Now its time to be cautious on long side as today “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” is active and we have also completed 99 bars from 16 Feb TopAs Both Astro and Gann Cycle are coming  So we can see some downmove in market in next few trading sessions.  Now Bulls need to move above 35729 for a move back to 35820/35960/36200. Bears will get active below 35525 for a move back to 35430/35196/35048 .

  • Bank Nifty July Future Open Interest Volume is at 19.5 lakh with liqudiation of 1.67 Lakh, with decrease in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @34909 and Rollover 81.1% closed above it.
  • 36000 CE is having highest OI @16.8 Lakh resistance at 36000 followed 36300. 35000-36000 CE added 4.6 Lakh in OI so bears added position in the zone of 36000-36500.
  • 34500 PE is having highest OI @20.2 Lakh, strong support at 35000 followed by 34500 .34000-35000 PE added 22 Lakh OI so bulls making support in the range of 34500-35000.

Buy Above 35729 Tgt 35820, 35967 and 36100 (Bank Nifty Spot Levels)

Sell Below 35610 Tgt 35525, 35433 and 35200 (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