Bank Nifty Rallies 700 points as Rahu Shows its Impact

By | August 30, 2021 9:28 pm
  • As discussed in  Last Analysis  We have Mercury Declination coming on 29 Aug, any Astro Event realted to mercury gives a big move in market, We will open gap up on Monday so watch for first 15 mins high and low it will decide the trend for the whole week. Bulls will get active above 35785 for a move towards 35937/36115/36289. Bears will get active below 35600 for a move back to 35453/35344/35250.All Bullish targets done and we saw the combo effect of gann and astro dates of Mercury and Rahu as discussed in below video and now bank nifty bulls need to hold 36156-36200 range for rally to continue towards 36481/36864/37007. Bears have there chance below 36171 for a move back to 36017/35923/35828/35733/35639.

  • Bank Nifty Rollover cost @35609 closed above it. 36019 gone aand we are up 500 points up in a single trading sessions. 
  • Bank Nifty Sep Future Open Interest Volume is at 17.2  lakh with addition of 2 Lakh, with increase in Cost of Carry suggesting  LONG positions were added today.
  • It has been BULLS day out with 700 points rally in Bank Nifty.We got a Decent rally once we moved above 35937 important  gann number, It was decent rally which caused maximum pain to maximum participants as most retail traders lose money by looking for a trending move in non-trending environments and staying out in trending environments.
  • There is total OI of 14.1 Lakh on the Call side and 19Lakh on the Put side. So, the activity is more on the PUT side, indicating Option Writers are having Bullish Bias.
  • The Option Table data indicates decent support at 36000 and reasonable resistance at 36500 followed by 36800.
  • For Positional Traders Stay long till we are holding Trend Change Level 35883 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 36231 will act as a Intraday Trend Change Level. 

Buy Above 36400 Tgt 36512, 36610 and 36729 (Bank Nifty Spot Levels)

Sell Below 36250 Tgt 36156, 36060 and 35913 (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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