- Bank Nifty today closed above 15550 but took support and resistance at gann arc as shown below, suggesting both bull and bears are in dilemma, Breakout above 15650 and breakdown below 15450, in between will remain choppy. Safest place for a ship is the harbour but it was never built to stay there….
- Bank Nifty April Future Open Interest Volume is at 17.8 lakh with addition of 0.76 lakh, with increase in Cost of Carry suggesting long positions were added today.Rollover cost @16000, Bank nifty closed below it and rewarded by 400 points How To Identify Market Tops and Bottom
- 16500 CE is having highest OI @7.5 Lakh resistance formation @16500. 15000-16900 CE added 2.5 lakh so bear making wall on resistance near 16000-16100 as Bank Nifty closed below the supply zone of 16000.
- 15000 PE is having highest OI @5.3 Lakh, strong support at 15000 followed by 15500, Bulls added 1.1 Lakh in OI in 15000-17000 PE as bank nifty closed below the demand zone of 15700 so bulls not adding aggressively.
- Bank Nifty Futures Trend Deciding level is 15651 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 15956 . 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 15580 Tgt 15680,15750 and 15850 (Bank Nifty Spot Levels)
Sell below 15500 Tgt 15410,15350 and 15200 (Bank Nifty Spot Levels)