As discussed in Last AnalysisAll Bullish target done and we also completed the gann angle journey from one angle to another as shown in below Gann Chart, Now Bulls need to protect 35937 for upmove to continue towards 36400/36729. Bears will get active below 35920 for a fall towards 35766/35487. Bulls failed to protect 35937 and bears below 35920 did 1 target on downside, Today we have RBI Policy outcome followed by 4 Astro Dates coming 1. SUN Square Uranus 2. Venus Square Saturn HELIO generally show Bearish move 3. Venus Opposition Uranus HELIO 4. Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes, suggesting very important date today and can lead to trend change in market. Till Bears are below 35937 price can fall towards 35661/35416/35171. Bulls will get active above 35940 for a move towards 36079/36324.
Bank Nifty August Future Open Interest Volume is at 18.2 lakh with addition of 0.82 Lakh, with increase in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @34880 closed above it.
36500 CE is having highest OI @6.9 Lakh resistance at 36500 followed 37000. 36000-37000 CE added 5.3 Lakh in OI so bears added position in the zone of 36500-37000.
35000 PE is having highest OI @6.8 Lakh, strong support at 35000 followed by 34500.35000-36000 PE added 13 Lakh OI so bulls making support in the range of 35000-35500.