SUN Square Jupiter :BANK Nifty Analysis

By | November 14, 2021 8:48 am
  • Bank Nifty has corrected 3483 points in 15 trading sessions and formed an INSIDE bar pattern on Friday, On Monday  we are forming SUN Square Jupiter Aspect. Jupiter is Ruling Plannet of Bank Nifty so again we will see Big move in Bank Nifty. Bears need to break 38636 for a move towards 38512/38319/38171. Bulls need to move above 38809 for a move towards 38935/39100/39236.

  • Bank Nifty Nov Future Open Interest Volume is at 19.4 lakh with liquidation of 2.8 Lakh contract , with increase in Cost of Carry suggesting  LONG positions were closed today. Rollover @ 41030.
  • MAX Pain is at 38600 and PCR is in the neutral zone of 0.9
  • The Option Table data indicates decent support at 38500 and reasonable resistance at 39000
  • For Positional Traders Stay long till we are holding Trend Change Level 39490 on Futures 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 38787 will act as a Intraday Trend Change Level. 

Buy Above 38750 Tgt 38881, 39029 and 39225 (Bank Nifty Spot Levels)

Sell Below 38636 Tgt 38526, 38400 and 38150 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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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