- As discussed in last analysis bank nifty was facing difficulty near 15555-15580 was due to gann resistance line, Holding the same Bank Nifty can scale towards 15800/16000 which is the next horizontal line of resistance. Bank Nifty made high of 15945 where it complete the Butterfly pattern also as discussed in Weekly Analysis Bank . Now Next 100 points range of 15945-16049 is very crucial where we will see lot of supply coming, unable to cross Bank Nifty can see 200-300 point correction. Nifty Support has increased to 15555-15600, Resistance in range of 16000-16050. Does it Hold True Let your Winners run and Cut your losses
- Bank Nifty March Future Open Interest Volume is at 23.5 lakh with addition of 1.9 lakh,10% increase in OI with decrease in Cost of Carry suggesting short positions were added today. Bank Nifty able to close above Rollover price @14115 and gave 1800 Points. How To Identify Market Tops and Bottom
- 16000 CE is having highest OI @9.3 Lakh resistance formation @16000. 14500-15500 CE saw 1.7 lakh liquidation as bears ran for cover as bank nifty is closing above 15500.
- 15500 PE is having highest OI @6.2 Lakh, strong support at 15500 followed by 15000, Bulls added aggressively in 15500/16000 PE as OI increased by 8 Lakh so bulls continue to add as Bank Nifty break the range of 15500.
- Bank Nifty Futures Trend Deciding level is 15847 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 15008 . Bank Nifty TC level gave 1000 points till now.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 16000 Tgt 16070,16200 and 16320 (Bank Nifty Spot Levels)
Sell below 15850 Tgt 15790,15680 and 15500(Bank Nifty Spot Levels)