- As discussed in last analysis Supply zone is range of 16229-16250 and Demand zone is back to 15700-15750, High Made was 16278 and bank nifty is stuck between gann line doing consolidation as shown in below chart. Bank Nifty should breakout above 16300 and breakdown below 16000 after RBI policy on Tuesday, We will get 2 trending move one around 12 and other after 2:30 PM, so trade cautiously. Are you Victim of “Over Trading”
- Bank Nifty April Future Open Interest Volume is at 16.3 lakh with liquidation of 0.89 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 @3.9 Lakh resistance formation @16500. 15000-17000 CE added 4.7 lakh so bear making wall on resistance near 16500-16800 as Bank Nifty closed below the supply zone of 16230.
- 15000 PE is having highest OI @4.4 Lakh, strong support at 15000 followed by 15500, Bulls again added 4.3 Lakh in OI in 15000-17000 PE.
- Bank Nifty Futures Trend Deciding level is 16237 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 16232 . 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 16200 Tgt 16280,16360 and 16450 (Bank Nifty Spot Levels)
Sell below 16150 Tgt 16070,15950 and 15850 (Bank Nifty Spot Levels)