Bank Nifty Analysis as Mars Square Neptune

  • As discussed in last analysis We have important astro date today so break of today high and low will decide the next 500-600 points move in bank nifty.Bulls now need to move above 21151 for a move back to 21316/21608/21900. Bears need to break  20960 for a move back to 20750/20450/20225.Bank Nifty Bulls got whipsawed and Bears did 2 target towards 20450 so Astro was able to give another trade. Mostly 3 target will be done tommrow. We have important Bearish Aspect forming tommrow between Mars and Neptune so another good move should be seen. Bears need to break 20164 for a move back towards 19881/19600. Bulls will get active above 20449 for a move back to 20736/21025.

  • Bank Nifty May Future Open Interest Volume is at 16  lakh with liquidation of 1 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @18001 closed above it
  • 21000 CE is having highest OI @4 Lakh resistance at 21000 followed 21300.19000-22000 CE added 6 Lakh in OI so bears added position in the zone of 21000-21500.
  • 20000 PE is having highest OI @6 Lakh, strong support at 20000 followed by 19800.19000-21000 PE added 4 Lakh OI so bulls making support in the range of 20300-20500.

Buy Above 20450 Tgt 20555,20700 and 20900 (Bank Nifty Spot Levels)

Sell Below 20160  Tgt 20000,19881 and  19600  (Bank Nifty Spot Levels)

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