Bank Nifty bounce from Vedic Number 29791

By | April 9, 2019
  • As Discussed in Last Analysis As today was important time cycle date high and low are important and break of high 30232 can see move towards 30322/30409/30583. Break of Low 29716 can see move towards 26629/29543/29372/29286 . Intraday level worked perfectly  and 29791 also was a confirmation bulls have upper hand also we continue to bounce from 29800 support zone Bank Nifty rallied almost 300 points. Break of  30232 can see move towards 30322/30409/30583. Break of Low 30040 can see move towards 29962/29875/29789. Another Big move can be seen in next 2 days.

  • Bank Nifty April Future Open Interest Volume is at 19.7 lakh with addition of 0.02 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29967.
  • 30500 CE is having highest OI @3.7 Lakh resistance at 30200 followed 30500.  29000-31000 CE added 0.49 Lakh in OI so bears added in the zone of 30000-30300
  • 29500 PE is having highest OI @3.2 Lakh, strong support at 29800 followed by 29600.29000-31000 PE added 1  Lakh OI so bulls making strong support in the range of 29600-29800.

Buy above 30165  Tgt 30222,30309 and  30396 (Bank Nifty Spot Levels)

Sell below 30040 Tgt 29962,29875 and 29789 (Bank Nifty Spot Levels)

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