Sun Ingress Impact on Bank Nifty

By | August 24, 2021 7:00 am
  • As discussed in  Last Analysis   All Bearish target done low made was 34926 exactly at our final target of 34928 and we close near gann angle support as shown in below chart. Now Bulls need to move above 35207 for a move back to 35301/35489/35678.  Bears will get chance below 35058 for a move back to 34931/34745/34555. We have Sun Ingress Astro Event as discussed in below video, suggesting if todays low 34817 is not breached trend is on upside for coming week, Bulls need to move above 35230 for a move towards 35420/35733. Bears will get active below 34810 for a move back to 34555/34320.

  • Bank Nifty Sep Future Open Interest Volume is at 5.9 lakh with addition of 1.8 Lakh, with increase in Cost of Carry suggesting  LONG positions were added today. Bank nifty Rollover cost @34880 closed above it.
  • 36000 CE is having highest OI @22.7 Lakh resistance at 35500 followed 36000. 35000-37000 CE added 12 Lakh in OI so bears added position in the zone of 35000-36000.
  • 35000 PE is having highest OI @24.6 Lakh, strong support at 35000 followed by 34500.34500-35500 PE added 19 Lakh OI so bulls making support in the range of 34500-35000.

Buy Above 35230 Tgt 35323, 35428 and 35555 (Bank Nifty Spot Levels)

Sell Below 35100 Tgt 35001, 34820 and 34666 (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.

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