Jupiter Ingress Effect on Bank Nifty

By | December 19, 2020 11:43 am
  • As Discussed in Last Analysis Now we have Jupiter Ingress on Saturday as Jupiter is Ruling plannet of Banks so Bank Nifty should come out of this time correction either on Monday or  Tommorw. 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 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.

  • Bank Nifty Nov Future Open Interest Volume is at 15.2 lakh with liquidation of 0.93 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29413 closed above it.
  • 31200 CE is having highest OI @11.8 Lakh resistance at 31200 followed 31500.29000-31000 CE added 8 Lakh in OI so bears added position in the zone of 30500-31000.
  • 30300 PE is having highest OI @14.6 Lakh, strong support at 30500 followed by 30300.29000-31000 PE added 10 Lakh OI so bulls making support in the range of 30200-30300.

Buy Above 30730 Tgt 30850,30921 and 31150 (Bank Nifty Spot Levels)

Sell Below 30610 Tgt 30476,30333 and 30169 (Bank Nifty Spot Levels)

Category: Daily

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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