Bank NIFTY ASTRO TECHNICAL ANALYSIS

By | October 5, 2021 8:12 pm

As discussed in Last Analysis   We saw impact of Astro date and bulls above 3400 did 37648.As we are seeing Servers of Whatsapp,facebook,instagram are down showing Plannets impact most part of human life, Now Bulls need a close above 37648 for a move towards 37840/37937/38035. Bears will be active below 37385 for a move back to 37220/37084. Low made was 37364 so bears unable to sustain below 37385 and bulls were able to close above  37648 now waiting for 37840/37937/38035. 3 important astro events are happening tommrow  Mars YOD Uranus Key Turning Point Uranus effects short term prices when in aspect to inner planets and Moon Conjunct Mars and Pluto is changing sign to Capricorn they should have good Impacts on Market. Swing Shorts can be initiated below 37555 for a move towards 37225/37053.

  • Bank Nifty Oct Future Open Interest Volume is at 18.8  lakh with addition of 0.46  Lakh contract , with increase in Cost of Carry suggesting  LONG positions were added today.
  • There has been 6.8 L contract roll-over happened today. When you add 6.7 L contracts rolled over yesterday, we have 12L contracts have been rolled over between 38500-37850 price zone. Considering that we are having around 20 OI  this is approximately 50%. So, this price zone will have a crucial bearing in the October series. Rollover Price is at 37993 and Rollover % @ 80.7 on Higher Side, Today closed above 37850 so price should head towards 38500 now.
  • MAX Pain is at 37500 PCR at 0.87 bulls are getting stronger.
  • The Option Table data indicates decent support at 37000 and reasonable resistance at 38000.
  • For Positional Traders Stay long till we are holding Trend Change Level 37600 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 37698 will act as a Intraday Trend Change Level. 

Buy Above 37800 Tgt 37896, 38050 and 38225 (Bank Nifty Spot Levels)

Sell Below 37685 Tgt 37575, 37475and 37225 (Bank Nifty Spot Levels)

Leave a Reply