Bank Nifty crashes as Jupiter Ingress Shows Effect

  • As Discussed in Last Analysis We saw Mild effect of Jupiter Ingress as Bank Nifty did 2 target on downside below 30610 and Bulls were unable to sustain to 30850,plan remians the same Bulls need to break 30850 for a move back to 31000/31248/31500. Bears below 30610 can push index back to 30525/30410/30250/30000. We saw the effect of Astro dates and gann angle resistance as shown in below video bank nifty crashed towards 29200. Now Bulls need to move above 29605 for a move back to 29755/29904/30150. Bears below 29200 can see fall extending towards 29050/28902/28666.

  • Bank Nifty Nov Future Open Interest Volume is at 17.6 lakh with addition of 2.3 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29413 closed above it.
  • 30000 CE is having highest OI @11.8 Lakh resistance at 30000 followed 30500.29000-31000 CE added 28 Lakh in OI so bears added position in the zone of 30000-30300.
  • 29000 PE is having highest OI @10.6 Lakh, strong support at 29200 followed by 29000 .29000-31000 PE added 5 Lakh OI so bulls making support in the range of 29200-29000.

Buy Above 29605 Tgt 29755,29900 and 30125 (Bank Nifty Spot Levels)

Sell Below 29201  Tgt 29040,28888 and 28666 (Bank Nifty Spot Levels)

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