Bank Nifty Analysis for 09 Aug

By | August 8, 2021 7:30 am
  • As discussed in  Last Analysis 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.Bears were able to close below 35937 now waiting for the target of 35661/35416/35171. Bulls need to move above 35940 for a move back to 36079/36324. We should see big move in bank nifty in next 2 trading session based on astro date combinations. 

  • Bank Nifty August Future Open Interest Volume is at 19.5 lakh with addition  of 1.26 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 @10.9 Lakh resistance at 36500 followed 37000. 36000-37000 CE added 15.3 Lakh in OI so bears added position in the zone of 36500-37000.
  • 35000 PE is having highest OI @12.8 Lakh, strong support at 35000 followed by 34500.35000-36000 PE added 23 Lakh OI so bulls making support in the range of 35000-35500.

Buy Above 35890 Tgt 36025, 36196 and 36350 (Bank Nifty Spot Levels)

Sell Below 35696 Tgt 35575, 35483 and 35225 (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.

2 thoughts on “Bank Nifty Analysis for 09 Aug

  1. Jagadish

    You always say in ur analysis as BIG MOVE is coming,wether this indicates a positive move only or can be both positive and negative also


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