- As discussed in last analysis we had a 3 straight rising day so price will now move and touch the upper gann arc which comes in range of 16600-16700, Bulls should book some profit in range of 16650-16700 in coming week. Support is at 16000. Low made was 16011 and high made 16330. Till 16000 is held bulls hope are alive for a move till 16500/16700 zone. Do You Fear Missing Out?
- Bank Nifty April Future Open Interest Volume is at 16.7 lakh with liquidation of 0.48 lakh, with decrease in Cost of Carry suggesting short positions were added today.Rollover cost @16000 and Bank Nifty gave impulsive move once closed above it, Do you know your Risk of Ruin in trading ?
- 17000 CE is having highest OI @7.7 Lakh resistance formation @17000 . 15000-17000 CE added 1.11 lakh as bank nifty unable to sustain the momentum on upside.
- 15500 PE is having highest OI @5.4 Lakh, strong support at 15500 followed by 15000, Bulls added 0.4 Lakh in OI in 15000-17000 PE as bank nifty closed above the demand zone of 16000 but unable to close 16300.
- Bank Nifty Futures Trend Deciding level is 16196 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 15983 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 16280 Tgt 16350,16500 and 16660 (Bank Nifty Spot Levels)
Sell below 16150 Tgt 16050,15950 and 15870 (Bank Nifty Spot Levels)