Bank Nifty Analysis as Mercury at Superior Conjunction

By | April 18, 2021 12:50 pm
  • As Discussed in Last Analysis  Now Bulls need to hold 32001 for a move towards 32385/32666/32830. Bears below 31880 can see quick fall towards 31615/31460/31304/31150. Bulls were able to do 1 target on upside, Monday Mercury at Superior Conjunction so again big move will be seen in next 2 trading sessions.  Bulls now need to move above 32071 for a move towards 32231/32484/32666. Bears below 31880 can see quick fall towards 31615/31460/31304/31150. 

  • Bank Nifty April Future Open Interest Volume is at 18.4 lakh with liquidation of 0.48 Lakh, with decrease in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @33759 closed below it.
  • 32500 CE is having highest OI @5.7 Lakh resistance at 32500 followed 33000.32500-35000 CE added 7.2 Lakh in OI so bears added position in the zone of 33000-34000.
  • 31000 PE is having highest OI @6.5 Lakh, strong support at 31000 followed by 30500 .31000-32000 PE added 18.3 Lakh OI so bulls making support in the range of 31300-31500.

Buy Above 32025 Tgt 32118,32230 and 32450 (Bank Nifty Spot Levels)

Sell Below 31900 Tgt 31820,31666 and 31450(Bank Nifty Spot Levels)

Leave a Reply