Mercury Declination Reaches Maximun:Bank Nifty falls 1600 points

By | July 21, 2021 11:45 pm
  • As Discussed in Last Analysis   We saw  the big voaltility due to Mercury as discussed in below video and all bearish target done. Now if we are unable to close above 35350 bears can push bank nifty twoards 34500/34000. Bulls need to move above 35350 for a move back to 35555/35729. Bears will get active below 34885 for a move towards 34666/34422. High made was 34895 bears got perfect entry at 34885 and did all target on downside and we are down 1600 points from Fridays High,Astro dates working nicely also perfect fall from gann angle support to resistance as shown below. Now we have another important mercury date coming as explained in below video, Bulls need to move above 34625 for a move back to 34754/34864/35000/35200. Bears will get active below 34485 for a move towards 34217/34018/33820.

  • Bank Nifty July Future Open Interest Volume is at 23 lakh with addition of 1.7 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @34909  closed above it.
  • 36000 CE is having highest OI @22 Lakh resistance at 35800 followed 36000 . 35000-37000 CE added 25.3 Lakh in OI so bears added position in the zone of 35800-36000.
  • 34300 PE is having highest OI @27.2 Lakh, strong support at 34300 followed by 34000 .34000-35000 PE added 22 Lakh OI so bulls making support in the range of 34500-34000.

Buy Above 34625 Tgt 34754, 34864 and 35092 (Bank Nifty Spot Levels)

Sell Below 34485 Tgt 34385, 34225 and 34101 (Bank Nifty Spot Levels)

Upper End of Expiry : 34864

Lower End of Expiry :  34385

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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