- As Discussed in Last Analysis Bank Nifty again bounced from gann angle as shown in below chart, traders who went long above 24100 were also rewarded handsomely,This is beauty of price and time meeting we are able to capture big move. We also saw the effect of time cycle confluence as discussed in weekly analysis. Now Till we are holding above 24100 bulls can scale towards 24476 which is our vedic number. Bearish below 24000 for a move back 23800-23600. High made today was 24496 but failed to close above 24476, Bulls need a close above 24476 for another upmove of 300-500 points. Till we are holding 24250 bulls have upper hand and can rally towards 24750/24920. Bearish below 24250 for a move back to 24100/23920. WE have Expiry/Weekly/Monthly/Quarterly closing tommrow as next 2 days are trading holding so get ready for a roller coaster ride. Important intraday time for reversal can be at 10:58/2:20. Capturing your Ideas Could Be Your Secret to Success
- Bank Nifty April Future Open Interest Volume is at 10.8 lakh with addition of 6.9 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @25010, closed below it.
- 24700 CE is having highest OI @5.8 Lakh resistance at 24700 followed 25000.24000-26000 CE added 5.2 lakh in OI so bears added position at 24800-25000.
- 24000 PE is having highest OI @12 Lakh, strong support at 24200 followed by 24000.23000-25000 PE added 2 lakh in OI so now 24200 will act as strong support
- Bank Nifty Futures Trend Deciding level is 24412 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24262. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 24476 Tgt 24531,24630 and 24750 (Bank Nifty Spot Levels)
Sell below 24380 Tgt 24300,24180 and 24100 (Bank Nifty Spot Levels)
Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586
Follow on Twitter:https://twitter.com/brahmesh