Bank Nifty fall 979 point as Mercury Change Sign

By | April 22, 2019
  • As Discussed in Last Analysis Bank Nifty opened with a gap up made high of 30669 and corrected showing the effect of Mercury change, Bears will get active below 30140 for a move back to 30018/29900. High made today was 30289 and Bank Nifty did all our target on downside ,also Intraday Levels mentioned on twitter did the target.Now Bulls need to go above 29770 for a move back to 29855/29941/30028/30115. Bears will get active below 29650 for a move back to 29561/29475/29389. Build Good Trading Habits

  • Bank Nifty April Future Open Interest Volume is at 15.5 lakh with liquidation of 3.5 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29967 closed below it.
  • 30000 CE is having highest OI @7.4 Lakh resistance at 30000 followed 29800.  29000-31000 CE added huge 29 Lakh in OI so bears added in the zone of 30000-29800.
  • 30000 PE is having highest OI @6.3 Lakh, strong support at 29500 followed by 29300.29000-31000 PE added 3.3 Lakh OI so bulls making strong support in the range of 29500-29700.

Buy above 29770 Tgt 29856,29942 and  30030 (Bank Nifty Spot Levels)

Sell below 29650 Tgt 29561,29475 and 29289  (Bank Nifty Spot Levels)

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