- As Discussed in Last Analysis Low made today was 24254 so bulls protected 24250 and also closed above 24476 suggesting we can see a good upmove towards our target of 24750/24920/25000. Bearish below 24250 for a move towards 24100/24000. High made today was 24666 so bulls failed to do target of 24750 but as soon as 24476 broken we saw the big fall and break of 24250 added more fuel to fire doing our target of 24100 also. As we have RBI policy outcome tommrow around 2 PM Bears need to break 24050 for a move towards 23920/23760. Bullish above 24250 for a move back to 24476/24666. Important intraday time for reversal can be at 9:26/2:42. Trading Resolution for Financial Year 2018-19
- Bank Nifty April Future Open Interest Volume is at 18.6 lakh with addition of 2.5 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24358 closed above it.
- 25000 CE is having highest OI @4.8 Lakh resistance at 24500 followed 25000.24000-26000 CE added 1.88 lakh in OI so bears added position at 24800-25000.
- 24000 PE is having highest OI @10.4 Lakh, strong support at 24000 followed by 23800.24000-26000 PE added 3.67 lakh in OI so now 24000 will be tested tommrow and 1 hour below it can see fast fall till 23800-23760.
- Bank Nifty Futures Trend Deciding level is 24403 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24395. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 24220 Tgt 24290,24400 and 24480 (Bank Nifty Spot Levels)
Sell below 24100 Tgt 24020,23920 and 24800 (Bank Nifty Spot Levels)
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