Venus at Superior Conjunction:Bank Nifty Analysis

  • As Discussed in Last Analysis  Tommrow being expiry and bank nifty trading below last expiry close suggesting bulls will be under pressure once we start trading below 33190. Bulls need to break 33401 for the upmove towards 33489/33585/33800. Bears below 33190 can see quick fall towards 33020/32850/32684.All Bearish targe done,Levels shared on twitter worked perfectly and we are back to gann angle support,tommorow is very important astro date, Venus at Superior Conjunction suggesting another volatile move ahead,Bulls need to break 33048 for the upmove towards 33139/33333/33555. Bears below 32850 can see quick fall towards 32666/32450/32222.

  • Bank Nifty April Future Open Interest Volume is at 21.3 lakh with addition of 3 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @33759 closed below it.
  • 33500 CE is having highest OI @8.1  Lakh resistance at 33500 followed 34000.33000-35000 CE added 7.3 Lakh in OI so bears added position in the zone of 33500-34500.
  • 32500 PE is having highest OI @8.4 Lakh, strong support at 32500 followed by 32000 .33000-34000 PE added 12 Lakh OI so bulls making support in the range of 33000-32500.

Buy Above 33048 Tgt 33139,33230 and 33321 (Bank Nifty Spot Levels)

Sell Below 32912 Tgt 32821,32730 and 32640 (Bank Nifty Spot Levels)

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