Bank Nifty Rallies 1300 Points as Jupiter and Mercury shows there Effect

By | May 17, 2021 7:46 pm
  • As Discussed in Last Analysis  As we have Jupiter Ingress today and today being holiday so effect will be seen tommrow,Jupiter is ruling plannet of bank nifty so we should see outperformance of bank nifty to nifty.  Range of 32287-32300 important support zone unable to hold this we can see fall extending towards 32040/31900 levels. Bulls will get active above 32550 for a move back to 32666/32900. We saw the impact of Jupiter Astro Cycle  and Gann 13 Year cycle impact ,Outperformance done by Bank Nifty today with rally of around 1300 points and bullish target done as shared on twitter. Now Bulls need to move above 33525 for a move back to 33666/33871/34000. Bears will get active below 33270 for  a move back to 33100/32888/32666.

  • Bank Nifty April Future Open Interest Volume is at 17.3 lakh with addition of 2.4 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @33146 closed above it.
  • 34500 CE is having highest OI @8.1 Lakh resistance at 34500 followed 35000.34000-35000 CE added 4.6 Lakh in OI so bears added position in the zone of 34500-35000.
  • 33000 PE is having highest OI @11.2 Lakh, strong support at 33000 followed by 32500 .32000-33000 PE added 27 Lakh OI so bulls making support in the range of 32000-33000.

Buy Above 33525 Tgt 33666,33871 and 34000 (Bank Nifty Spot Levels)

Sell Below 33400 Tgt 33270, 33100 and 32888 (Bank Nifty Spot Levels)

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