Venus Declination Impact on Bank Nifty

By | August 16, 2021 8:34 pm
  • As discussed in  Last Analysis  Bank Nifty did 1 target on downside and failed to move above 36000 as high made was 35998 and we saw breakout above gann angle. Bulls will get active above 36000 for a move back to 36178/36450/36666.Bears need a close below 35898 for a move back to 35760/35584/35465. We have venus Declination tommrow suggesting we could see big move in bank nifty as Venus has impact on both nifty and bank nifty. Now Bulls need to move above 36150 for a move back to 36226/36358/36455. Bears will get active below 35898 for a move towards 35768/35555/35321.

  • Bank Nifty August Future Open Interest Volume is at 20 lakh with addition of 0.89 Lakh, with decrease in Cost of Carry suggesting  SHORT positions were closed today. Bank nifty Rollover cost @34880 closed above it.
  • 36500 CE is having highest OI @12.1 Lakh resistance at 36500 followed 37000. 36500-37500 CE added 12.2 Lakh in OI so bears added position in the zone of 36500-37000.
  • 35500 PE is having highest OI @12.2 Lakh, strong support at 35500 followed by 35000.35000-36000 PE added 13 Lakh OI so bulls making support in the range of 35000-35500.

Buy Above 36150  Tgt 36226, 36358 and 36455 (Bank Nifty Spot Levels)

Sell Below 35990 Tgt 35900, 35769 and 35666 (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