Bank Nifty Rallies as per Uranus Neptune Aspect

By | October 17, 2019
  • As discussed in Last Analysis  We have formed a NR 7 is Bank Nifty suggesting big move round the corner and also we have important time cycle date tomorrow, so good move will be seen in bank nifty in coming 2 sessions. Bulls need to move above 28638 for the up move to continue towards 28836/29000/29200.Bears will get active below 28300 for a move back to 28150/27900. 29000 done and we got the big move as per expectation as Uranus Neptune showed effect, Now Bulls need to move above 29000 for a move back to 29180/29300/29500. Bears will get active below 28800 for a move back to 28666/28500/28300.

  • Bank Nifty Oct Future Open Interest Volume is at 14.2  lakh with addition of 0.38 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @30213  closed below it.
  • 29300 CE is having highest OI @3.8 Lakh resistance at 29300 followed 29500.28000-31000 CE liquidated 1.2 Lakh in OI so bears covered  position in the zone of 28300-28500.
  • 28500 PE is having highest OI @5.3 Lakh, strong support at 28800  followed by 28500.27000-30000 PE added 2 Lakh OI so bulls making support in the range of 28060-28800.

Buy above 29050 Tgt 29195,29300 and  29470 (Bank Nifty Spot Levels)

Sell below 28840  Tgt 28650,28500 and 27280 (Bank Nifty Spot Levels)

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