Bank Nifty EOD Analysis for 29 Dec

By | December 28, 2020 10:25 pm
  • As Discussed in Last Analysis We are heading back to gann angles again and Moon at Ascending Node again suggesting another volatile move coming. Now Bulls need to move above 30555 for rally towards 30666/30830/30999. Bears will get active below 30250 for a move back to 30091/29780. Low made was 30538 and once 30555 done all bullish target done. Now Bulls need to move above 30930 for a move back to 31050/31200/31473. Bears below 30729 can move back to 30500/30391/30100.

  • Bank Nifty Nov Future Open Interest Volume is at 13.7 lakh with liquidation of 0.16 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29413 closed above it.
  • 31200 CE is having highest OI @14.8 Lakh resistance at 31200 followed 31500.30000-32000 CE added 12 Lakh in OI so bears added position in the zone of 30000-30300.
  • 30300 PE is having highest OI @12.6 Lakh, strong support at 30300 followed by 30000 .29000-31000 PE added 8 Lakh OI so bulls making support in the range of 30300-30000.

Buy Above 30930 Tgt 31027,31150 and 31420 (Bank Nifty Spot Levels)

Sell Below 30780 Tgt 30666,30500 and 30225 (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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