Bank Nifty Analysis as Coronavirus-Sparked Sell off

  • As discussed in Last Analysis Bank Nifty is near gann angle support also bounced near 30090 yesterday also as per Astro cycle we should see big move of 300-500 points in bank nifty in next 2 trading days. Bulls will get active above 30400 for a move back to 30515/30632/30800. Bears will get active below 30200 for a move back to 30090/29900/29721/29500. Low made was 29900 today we will open gap down again as per gann angle range of 29450-29500 is important support zone,holding the same some relief rally can be expected. Fall is going as per our astro analysis so hope readers are able to make money. Based on Gap down opening will be updating level on Twitter. You can follow us on Twitter to get real time levels.

  • Bank Nifty March Future Open Interest Volume is at 10  lakh with addition of 2.9 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @30428 closed below it.
  • 30500 CE is having highest OI @3.8 Lakh resistance at 30300  followed 30500.30000-32000 CE added 11  Lakh in OI so bears added position in the zone of 30700-30500.
  • 29500 PE is having highest OI @2.5 Lakh, strong support at 29800 followed by 29500.29000-31000 PE added 6 Lakh OI so bulls making support in the range of 29500-29600.

Buy above 30100 Tgt 30200,30400 and  30600 (Bank Nifty Spot Levels)

Sell below 29900 Tgt 29766,29620  and 29350  (Bank Nifty Spot Levels)

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