Bank Nifty reacts on time cycle date

By | April 8, 2019 8:36 pm
  • As Discussed in Last Analysis Bank Nifty did a bounce from 29800-29900 zone and we are waiting for 1 target of 30276/30400. Fresh shorts should be taken below 29780 for a move towards 29639/29553. Shorts below 29780 got stopped out, 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 . In Between use Intraday level mentioned below to trade.29791 is our vedic number till we are closing above it Bulls will have upperhand.

  • Bank Nifty April Future Open Interest Volume is at 19.6 lakh with addition of 0.36 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29967.
  • 30500 CE is having highest OI @3.8 Lakh resistance at 30200 followed 30500.  29000-31000 CE added 1.22 Lakh in OI so bears added in the zone of 30000-30300
  • 29500 PE is having highest OI @3.5 Lakh, strong support at 29800 followed by 29600.29000-31000 PE liquidated 0.50  Lakh OI so bulls making strong support in the range of 29600-29800.

Buy above 29886  Tgt 29971,30058 and  30145  (Bank Nifty Spot Levels)

Sell below 29790 Tgt 29700,29626 and 29540  (Bank Nifty Spot Levels)

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Category: Daily

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.

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