Bank Nifty Analysis as Saturn Creates Havoc for Bears

• As discussed in  Last Analysis Mercury went in Superior Conjunction and Saturn goes in an Inharmonious aspect with Sun Suggesting we should see big move in Bank Nifty. Bank Nifty bulls need to move above 34862 for a move back to 34993/35125/35400. Bears will get active below 34666 for a move back to 34578/34446/34304. Low made was 34649 and once above 34862 bulls had upper hand and with Saturn Aspect and Mercury Superioer Conjuction multiple Astro event added fuel to fire and we got the big move. Now Bulls need to hold 35193 level for the upmove to continue till 35400/35620. Bears will get active below 35119 for a move back to 34824/34666.

• Intraday time for reversal can be at 9:22/12:54/1:02/2:17/2:53 How to Find and Trade Intraday Reversal Times

• Bank Nifty August Future Open Interest Volume is at 17.6 lakh with liquidation of 3.4 Lakh, with decrease in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @34880 closed above it.

• 35500 CE is having highest OI @16.4 Lakh resistance at 35500 followed 36000. 34500-36000 CE added 5.3 Lakh in OI so bears added position in the zone of 35000-35300.

• 34500 PE is having highest OI @14.8 Lakh, strong support at 34500 followed by 34000 .34000-35000 PE added 33 Lakh OI so bulls making support in the range of 34000-34300.

• Bank Nifty Futures Trend Deciding level is 35061 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 34896 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy Above 35250 Tgt 35414, 35600 and 35816 (Bank Nifty Spot Levels)

Sell Below 35119 Tgt 35031, 34943 and 34824 (Bank Nifty Spot Levels)