Astro Effect:Bank Nifty Rallies another 400 points

  • As discussed in last analysis  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. All Bullish target done and as Uranus Conjunction Pluto we are almost up 1100 points from Monday High. This is how astro helps in catching big moves. Bulls need to move above 21350 for a move back to 21600/21952.Bears need a close below 20870 for a move back to 20600/20444/20225.

  • Bank Nifty May Future Open Interest Volume is at 7.2 lakh with addition of 1.6 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @17939 closed above it
  • 21500 CE is having highest OI @4.3 Lakh resistance at 21500 followed 21800.21000-22000 CE added 5 Lakh in OI so bears added position in the zone of 21300-21500.
  • 20800 PE is having highest OI @4 Lakh, strong support at 20800 followed by 20500.19000-20000 PE added 22 Lakh OI so bulls making support in the range of 20800-21000.

Buy Above 21316 Tgt 21494,21610 and 21898  (Bank Nifty Spot Levels)

Sell Below 20900 Tgt 20740,20600 and  20450 (Bank Nifty Spot Levels)

Upper End of Expiry : 21463

Lower End of Expiry : 20716

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