Bank Nifty ready for Big Move

By | May 1, 2019
  • As Discussed in Last Analysis Bears need to move below 29990 for a move back to 29900/29821/29735. 29 April is important astro date so effect will be seen on 30. All Bearish target done below 29990. Now Bulls need to move above 29930 for a move 30068/30225. Bears will get active below 29740 for a move back to 29570/29380. Good  Move should be seen in next 2 days based on Astro Dates. Build Good Trading Habits

  • Bank Nifty May Future Open Interest Volume is at 17.3 lakh with liquidation of 1.6 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29964 closed above it.
  • 30000 CE is having highest OI @2.1 Lakh resistance at 30000 followed 30300.  29000-31000 CE added 1.5 Lakh in OI so bears added in the zone of 30000-30300.
  • 29500 PE is having highest OI @2.1Lakh, strong support at 29600 followed by 29500.29000-31000 PE added 1.3 Lakh OI so bulls making strong support in the range of 29600-29500.

Buy above 29800 Tgt 29910,30000 and  30115  (Bank Nifty Spot Levels)

Sell below 29740 Tgt 29650,29570 and 29375  (Bank Nifty Spot Levels)

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