Nifty Bank Analysis for 19 Aug

  • As discussed in last analysis  We have Mercury at Superior Conjunction on 17 Aug as discussed in below video so we have a key pressure date. Bears will get active below 21609 for a move back to 21463/21316/21171/21025. Bulls will get active above 21904 for a move back to 22201/22500. 22201 done above 21904 and we got the big move as per expecation of Astro cycle. Now Bulls need to hold 22009-22020 range for upmove to continue towards 22389/22500/22666. Bears will get active below 21980 for a move back to 21790/21610/21400.

  • Bank Nifty Aug Future Open Interest Volume is at 12.9 lakh with liquidation of 0.63 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @22013 closed above it.
  • 22500 CE is having highest OI @16 Lakh resistance at 22500 followed 22800.21000-23000 CE added 21 Lakh in OI so bears added position in the zone of 22000-22300.
  • 21500 PE is having highest OI @12 Lakh, strong support at 21500 followed by 21200.20000-22000 PE added 24 Lakh OI so bulls making support in the range of 21500-21800.

Buy Above 22233 Tgt 22320,22425 and 22600 (Bank Nifty Spot Levels)

Sell Below 22000 Tgt 21928,21790 and 21600 (Bank Nifty Spot Levels)

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