BANK NIFTY Crashes 2000 points on Astro Date

By | February 28, 2021 9:03 am
  • As discussed in Last Analysis   Till Bulls are holding 36500 price can rally towards 36653/36863/36999. Bears below 36270 can see quick fall towards 36050/35849/35600. Tommrow we have very Important Astro Date. We have discussed Importance of Astro Date in below video,Bank NIFTY crashed 2000 points, Now bears need to break 34650 for a move towards 34340/34000/33682. Range of 33680-33690 is important support zone, Bulls have there chance above 34970 for a quick move towards 35121/35280/35555. 01 March is important gann trend change date.

  • Bank Nifty March Future Open Interest Volume is at 14.7 lakh with addition of 1.3 Lakh, with increase in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @35984 closed below it.
  • 35500 CE is having highest OI @20.3 Lakh resistance at 35500 followed 36000.35000-37000 CE added 37.9 Lakh in OI so bears added position in the zone of 35500-36000.
  • 34500 PE is having highest OI @19 Lakh, strong support at 34500 followed by 34000 .34000-36000 PE added 22 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 34965 Tgt 35120,35280 and 35400 (Bank Nifty Spot Levels)

Sell Below 34650 Tgt 34500,34340 and 34200 (Bank Nifty Spot Levels)

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