Bank Nifty Analysis as 2 Plannets goes Ingress

  • Today was an important Astro Date and Gann Date as discussed in below video suggesting today High and low will be important for next 500-750 points move in BankNifty. Bulls need to break 29088 for a move back to 29232/29376/29520/29664. Bears below 28800 for a move back to 28656/28512/28368/28224. Every dip in market is getting bought into so trend is firmly up. When everything looks safe and bullish to you, it is selling time. When there are media stories that world is going to collapse, time to buy. Is trend really the friend? 🙂

  • Bank Nifty Nov Future Open Interest Volume is at 13.4 lakh with liquidation of 1.41 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24264 closed above it.
  • 29500 CE is having highest OI @22 Lakh resistance at 29500 followed 29800.28000-30000 CE added 12.1 Lakh in OI so bears added position in the zone of 29000-29500
  • 28500 PE is having highest OI @12.1 Lakh, strong support at 28500 followed by 28200.28000-29000 PE added 12 Lakh OI so bulls making support in the range of 29000-29300.

Buy Above 29088 Tgt 29232,29376 and 29520 (Bank Nifty Spot Levels)

Sell Below 28944 Tgt 28800,28656 and 28512 (Bank Nifty Spot Levels)

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