Double Ingress Impact on Bank Nifty

By | December 12, 2021 1:33 pm
  • We are getting double Ingress tommrow as Mercury is moving in Capricon and Mars is moving in Sagittarius alongwith Lunar Cycle  suggesting we are in for big move in next 2 trading sessions. Bulls need to move above 37208 for a move towards 37400/37592/37783. Bears will get active below 37010 for a move towards 36817/36624/36430.

  • Bank Nifty Nov Future Open Interest Volume is at 22.6 lakh with addition of 0.42 Lakh contract , with increase in Cost of Carry suggesting  LONG positions were added today.
  • MAX Pain is at 37000 and PCR is in Bullish zone of 0.99
  • The Option Table data indicates decent support at 36800 and reasonable resistance at 37500
  • 37465 should be watched closelyon Bank Nifty futures any close above it can lead to rally towards 38124 on BNF.
  • For Positional Traders Trend Change Level is 36683 on Futures and go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 37108 will act as a Intraday Trend Change Level. 

Buy Above 37208 Tgt 37304, 37400 and 37555 (Bank Nifty Spot Levels)

Sell Below 37016 Tgt 36920, 36824 and 36729 (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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