Sun Ingres Impact Bank Nifty rallies 700 points

  • As discussed in Last Analysis  Now Bears need to break 31684 for the downmove towards 31329/30976. Bulls need to move above 32050 for a move back to 32225/32400/32681. Tommrow is another Important Astro Date. Sun Ingress Astro Date showed its effect with a 700 points rally in bank nifty, Bulls were able to do 2 target on upside,bounced from the gann angle support, Now Bulls need to move above 32500 for a move bak to 32786/32900/33050. Bears below 32225 for a move back to 32040/31850/31650.

  • Bank Nifty Jan Future Open Interest Volume is at 15.8 lakh with liquidation of 0.001 Lakh, with increase in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @31230 closed above it.
  • 32500 CE is having highest OI @11.9 Lakh resistance at 32500 followed 33000.31000-33000 CE added 8.3 Lakh in OI so bears added position in the zone of 32800-33300.
  • 32000 PE is having highest OI @11.6 Lakh, strong support at 32000 followed by 31800 .31000-32000 PE added 15.2 Lakh OI so bulls making support in the range of 31500-31800.

Buy Above 32500 Tgt 32638,32786 and 32900 (Bank Nifty Spot Levels)

Sell Below 32333 Tgt 32164,32040 and 31900(Bank Nifty Spot Levels)

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