Bank Nifty Analysis as Neptune goes Retrograde

By | November 29, 2020 7:56 pm
  • As Discussed in Last Analysis As most of world market are closed due to THANKS Giving we will see Light trading volumes and less volatlity. Bulls need to move above 29650 for a move back to 29781/29999/30150. Bears below 29450 can fall back to 29250/29100/29000.Both Bulls and Bears got whipsawed, As Neptune goes Retrograde on 28 Nov and we also have Mercury Ingress of 01 Dec suggesting we are ready for another big move in Bank Nifty. Bulls need to move above 29791 for a move back to 29910/30109/30250. Bears below 29350 can fall back to 29200/29070/28920.

  • Bank Nifty Nov Future Open Interest Volume is at 14.2  lakh with addition of 0.30 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29413 closed above it.
  • 30000 CE is having highest OI @12 Lakh resistance at 30000 followed 30200.29000-31000 CE added 12.1 Lakh in OI so bears added position in the zone of 30000-30500
  • 29000 PE is having highest OI @15.1 Lakh, strong support at 29300 followed by 29000.28000-29000 PE added 12 Lakh OI so bulls making support in the range of 29000-29300.

Buy Above 29650 Tgt 29781,29999 and 30150(Bank Nifty Spot Levels)

Sell Below 29450 Tgt 29300,29150 and 29000 (Bank Nifty Spot Levels)

Category: astro bank nifty technicals

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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