- As discussed in last analysis Supply zone is range of 16229-16250 and Demand zone is back to 15700-15750, High Made was 16235 and bank nifty is stuck between gann line doing consolidation and will remain in that range till Monday should breakout above 16300 and below 16000 after RBI policy on Tuesday where the next move should come as shown in below chart. Focus On
- Bank Nifty April Future Open Interest Volume is at 12.9 lakh with addition of 3.5 lakh, with decrease in Cost of Carry suggesting short positions were added today.Rollover cost @16000 How To Identify Market Tops and Bottom
- 16500 CE is having highest OI @3.3 Lakh resistance formation @16500. 15000-17000 CE added 1.5 lakh so bear making wall on resistance near 16500-16800 as Bank Nifty closed below the supply zone.
- 15000 PE is having highest OI @3.1 Lakh, strong support at 15000 followed by 15500, Bulls again added 2.2 Lakh in OI in15000-17000 PE.
Buy above 16200 Tgt 16280,16360 and 16450 (Bank Nifty Spot Levels)
Sell below 16000 Tgt 15880,15760 and 15616 (Bank Nifty Spot Levels)
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