Saturn Opposition Sun :Bank Nifty Analysis

By | August 2, 2021 7:58 pm
  • As discussed in below Video Mercury went in Superior Conjunction and Saturn goes in an Inharmonious aspect with Sun Suggesting we should see big move in Bank Nifty. Bank Nifty bulls need to move above 34862 for a move back to 34993/35125/35400. Bears will get active below 34666 for a move back to 34578/34446/34304.

  • Bank Nifty August Future Open Interest Volume is at 21 lakh with addition of 0.01 Lakh, with increase in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @34880 closed below it.
  • 35000 CE is having highest OI @19.4 Lakh resistance at 35000 followed 35500 . 34500-36000 CE added 15.3 Lakh in OI so bears added position in the zone of 35000-35300.
  • 34500 PE is having highest OI @11.8 Lakh, strong support at 34500 followed by 34000 .34000-35000 PE added 12 Lakh OI so bulls making support in the range of 34000-34300.

Buy Above 34725 Tgt 34848, 34990 and 35063 (Bank Nifty Spot Levels)

Sell Below 34666 Tgt 34575, 34446 and 34312 (Bank Nifty Spot Levels)

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