Total Solar Eclipse Impact on Bank Nifty

  • As Discussed in Last Analysis  Bank Nifty bounced from gann angle support as shown in below chart,Now Bulls need to break 30610 for a move back to 30823/31000. Bears below 30400 can push index back to 30250/30030/29890. 30811 done above 30610, We have Total Solar Eclipse on 14 Dec and last 2 days we have formed DOJI suggesting good move will be seen based on Astrod date. Bulls need to break 30823 for a move back to 31000/31300. Bears below 30555 can push index back to 30351/30098/29868.

  • Bank Nifty Nov Future Open Interest Volume is at 16 lakh with addition of 0.08 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29413 closed above it.
  • 31000 CE is having highest OI @8.8 Lakh resistance at 31000 followed 31300.29000-31000 CE added 12 Lakh in OI so bears added position in the zone of 30500-31000.
  • 30200 PE is having highest OI @11.6 Lakh, strong support at 30200 followed by 30000.29000-31000 PE added 12 Lakh OI so bulls making support in the range of 30200-30300.

Buy Above 30666 Tgt 30800,30920 and 31065 (Bank Nifty Spot Levels)

Sell Below 30555 Tgt 30400,30150 and 30020 (Bank Nifty Spot Levels)

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