Bank Nifty Rallies 700 points as Bayers Date shows Impact

By | August 24, 2021 8:03 pm
  • As discussed in  Last Analysis   We have Sun Ingress Astro Event as discussed in below video, suggesting if todays low 34817 is not breached trend is on upside for coming week, Bulls need to move above 35230 for a move towards 35420/35733. Bears will get active below 34810 for a move back to 34555/34320. All Bullish target done, Sun Ingress Confirmed bottom and Bayers date gave mometum when 2 Astro Date come together we generally gets big move in market. Now Bulls need to move above 35809 for a move back to 35937/36100/36326. Bears will get chance only below 35610 for a move back to 35525/35432/35256. 

  • Bank Nifty Sep Future Open Interest Volume is at 8.2 lakh with addition of 2.3 Lakh, with increase in Cost of Carry suggesting  LONG positions were added today. Bank nifty Rollover cost @34880 closed above it.
  • 36300 CE is having highest OI @22.7 Lakh resistance at 36000 followed 36300. 35000-37000 CE added 22 Lakh in OI so bears added position in the zone of 35000-36000.
  • 35000 PE is having highest OI @34.6 Lakh, strong support at 35000 followed by 34500.34500-35500 PE added 29 Lakh OI so bulls making support in the range of 34500-35000.

Buy Above 35809 Tgt 35904, 35999 and 36093 (Bank Nifty Spot Levels)

Sell Below 35714 Tgt 35620, 35526 and 35432 (Bank Nifty Spot Levels)

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