Lunar Eclipse Impact on Bank Nifty Analysis

By | November 20, 2021 2:53 pm
  • As Discussed in Last Analysis  We also have formed a bullsih ABCD pattern as shown in below chart whose target is at 38683. Bulls need to move above 38220 for a move towards 38420/ 38683/38820. Bears will get active below 37980 for a move towards 37863/37685/37400. We have bounced from PRZ Zone as shown in below ABCD chart we have 3 important astro event happening Lunar Ecplise with Full Moon,Moon at Apogee and Sun Ingress happening suggesting we can see a bounce back in bank nifty above 38025 for a move towards 38416/38683, Bears will have chance below 37748 for a move back to 37636/37400.

  • Bank Nifty Nov Future Open Interest Volume is at 20.2 lakh with addition of 0.10 Lakh contract , with increase in Cost of Carry suggesting  LONG positions were added today. Rollover @ 41030.
  • MAX Pain is at 38100 and PCR is in the neutral zone of 0.78
  • The Option Table data indicates decent support at 37700 and reasonable resistance at 38300
  • For Positional Traders Stay short till we are below Trend Change Level 386448 on Futures and go long above it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 38041 will act as a Intraday Trend Change Level. 

Buy Above 38001 Tgt 38100, 38224 and 38404 (Bank Nifty Spot Levels)

Sell Below 37900 Tgt 37750, 37600 and 37424 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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