- As discussed in last analysis Now for coming week Only close above 16800 can fuel the expiry rally towards 17000, else any close below 16500 can see move towards 16350/16300. High made 16767 and low made 16605 so trading in a range and doing time correction. How to preserve Mental Capital for Trading
- Bank Nifty April Future Open Interest Volume is at 18 lakh with liquidation of 1 lakh, with increase in Cost of Carry suggesting short positions were closed today.Rollover cost @16000 and Bank Nifty rallied almost 700 points above it, Do you know your Risk of Ruin in trading ?
- 17000 CE is having highest OI @6.9 Lakh resistance formation @17000 . 16000-17000 CE added 0.22 lakh in OI.
- 16500 PE is having highest OI @4.3 Lakh, strong support at 16500 followed by 16000, Bulls added 0.85 Lakh in OI in 16400-17000 PE as bank nifty closed above the demand zone of 16500.
- Bank Nifty Futures Trend Deciding level is 16677 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 16144 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 16700 Tgt 16760,16840 and 16920 (Bank Nifty Spot Levels)
Sell below 16600 Tgt 16520,16440 and 16350 (Bank Nifty Spot Levels)