Nifty Bank Shows Reversal on Astro Date

By | March 20, 2021 1:54 pm
  • As Discussed in Last Analysis Now today we have important astro date so we can see relief rally in next 2 trading sessions. Bulls need to move above 33970 for a move back to 34071/34178/34400/34545/34800. Bears will get active below 33729 for a move back to 33600/33424/33200/33000. Bank Nifty opened with gap down and did not trigger the levels given, But levels given on twitter worked perfectly and we also got a reversal as discussed in below video. For uptrend to continue Bulls need to move above 34360 for a move back to 34555/34729/34400/34950. Bears will get active below 34040 for a move back to 33860/33666/33444/33222.

  • Bank Nifty March Future Open Interest Volume is at 13.5 lakh with liquidation of 1.5 Lakh, with decrease in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @35984 closed below it.
  • 34500 CE is having highest OI @8.6  Lakh resistance at 34500 followed 35000.34000-36000 CE added 5.2 Lakh in OI so bears added position in the zone of 34000-35000.
  • 33500 PE is having highest OI @8.1 Lakh, strong support at 33500 followed by 33000 .34000-36000 PE added 13 Lakh OI so bulls making support in the range of 33000-33500.

Buy Above 34225 Tgt 34360,34525 and 34666 (Bank Nifty Spot Levels)

Sell Below 34055 Tgt 33959,33858 and 33666 (Bank Nifty Spot Levels)

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