Sun Jupiter Conjuction :Bank Nifty Rallies to All Time High

  • As discussed in Last Analysis  Now we have Jupiter conjuction happening tommrow suggesting another big move will be seen. Jupiter is ruling plannet for bank nifty so tommrow high and low will be important for budget day trading. We have discussed the importance of Jupiter conjuction and once 29 Jan High was taken out Bulls had a one sided rally and all target were done on upside.Perfect trade with a big reward and we also saw the importance of Astro date. Now Bulls need to move above33333 for a move back to 33355,33777,33960. Bears below 32761 can move back to 32433/32105.

  • Bank Nifty Feb  Future Open Interest Volume is at 18.6 lakh with addition of 1.7 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @30980 closed above it.
  • 33500 CE is having highest OI @5.1 Lakh resistance at 33500 followed 34000.32000-34000 CE added 2.3 Lakh in OI so bears added position in the zone of 30500-30800.
  • 32000 PE is having highest OI @7.3 Lakh, strong support at 32500 followed by 32000 .30000-32000 PE added 22 Lakh OI so bulls making support in the range of 32000-32500.

Buy Above 33333 Tgt 33355,33777 and 33960 (Bank Nifty Spot Levels)

Sell Below 32999 Tgt 32761,32450 and 320105 (Bank Nifty Spot Levels)

Leave a Reply