Astro Effect:Bank Nifty Rallies 600 points

  • As discussed in last analysis  We are near gann angle support suggesting good move should come in next 2 days.  Bulls need to move above 20225 for a move back to 20420/20610/20800/20841.Bears need a close below 19999 for a move back to 19877/19680/19500. Low made was 20260 and bulls did 3 target on upside,Astro date again helped in capturing good move in Bank Nifty. Bulls need to move above 20751 for a move back to 20870/21000/21225.Bears need a close below 20500 for a move back to 20270/20100/19800.

  • Bank Nifty May Future Open Interest Volume is at 5.5 lakh with addition of 2.1 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @17939 closed above it
  • 21000 CE is having highest OI @10 Lakh resistance at 21000 followed 21200.19000-21000 CE added 10 1 Lakh in OI so bears added position in the zone of 21000-21300.
  • 20000 PE is having highest OI @12 Lakh, strong support at 12000 followed by 19700.18000-20000 PE added 22 Lakh OI so bulls making support in the range of 20000-20300.

Buy Above 20751 Tgt 20861,21000 and 21350 (Bank Nifty Spot Levels)

Sell Below 20500 Tgt 20370,20100 and  19880 (Bank Nifty Spot Levels)

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