Bank Nifty Fall 600 points below Mercury Ingress Low

By | May 8, 2019 11:04 pm
  • As Discussed in Last Analysis Now fall can extend towards 29000-28900 range where strong support lies. Low made was 28951 so we did our target of 29000, Zone of 28900-289851 is strong support zone, Fresh short should be taken below 28900 only also tomorrow is important astro date , If we do not break 28900 which is a gann cycle number we can see the relief rally. Bulls will get active above 29076 for a move back to 29225/29376. Beras will get active below 28860 for a move back to 28666/28485.  How Comfortable you are with your trading ?

  • Bank Nifty May Future Open Interest Volume is at 18.2 lakh with liquidation of 0.18 Lakh, with increase in Cost of Carry suggesting short  positions were closed today. Bank nifty Rollover cost @29964 closed below it.
  • 30500 CE is having highest OI @3 Lakh resistance at 29500 followed 29800.  29000-31000 CE added 0.56 Lakh in OI so bears added in the zone of 29500-29800
  • 29000 PE is having highest OI @3.7 Lakh, strong support at 29000 followed by 28800.29000-31000 PE added 0.54 Lakh OI so bulls making strong support in the range of 28900-29000.

Buy above 29000 Tgt 29064,29180 and  29300 (Bank Nifty Spot Levels)

Sell below 28950 Tgt 28860,28760 and 28666 (Bank Nifty Spot Levels)

Upper End of Expiry: 29231

Lower End of Expiry : 28757

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Category: astro nifty technicals

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.

2 thoughts on “Bank Nifty Fall 600 points below Mercury Ingress Low

  1. Kishore

    Sir, 4th line , 28900 holds which is gann angle, we can see a relief rally ?
    Relief rally means sell on rise … Is it that , you mean to say banknifty top is made ? opprortunity to rise on sell ?

    Reply

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