Will SUN Opposition Jupiter Aspect Lead to Crash in on Bank Nifty

By | August 19, 2021 3:09 pm
  • As discussed in  Last Analysis  Bears were able to do 1 target on downside and till we are below 35937 bears can push index towards 35768/35555/35321. Bulls will get active above 36000 for a move back to 36200/36412. Based on Venus Declination we should see another big move in market in next 2 trading session. 35555 done and now waiting for target of 35321/35150/34928. We saw the impact of Venus declination and now today we have a very important aspect which is SUN Opposition Jupiter which is also called as Dow Crash Aspect, Jupiter is larget plannet of solar system so this is a very rare aspect, and we have also formed outside bar pattern which is strong reversal pattern, so we should see another fall tommrow. Bulls will have chance above 36000 for a move back to 36200/36412

  • Bank Nifty August Future Open Interest Volume is at 19.8 lakh with addition of 0.45 Lakh, with decrease in Cost of Carry suggesting  SHORT positions were added today. Bank nifty Rollover cost @34880 closed above it.
  • 36000 CE is having highest OI @7.4 Lakh resistance at 36000 followed 36200. 36000-37000 CE added 12.2 Lakh in OI so bears added position in the zone of 36000-36500.
  • 35000 PE is having highest OI @8.1 Lakh, strong support at 35000 followed by 34500.35000-36000 PE added 3 Lakh OI so bulls making support in the range of 35000-35500.

Buy Above 35650 Tgt 35746, 35840 and 35937 (Bank Nifty Spot Levels)

Sell Below 35225 Tgt 35100, 35928 and 34730 (Bank Nifty Spot Levels)

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