- As Discussed in Last Analysis Bank Nifty opened with gap down took support near gann angle as seen in below chart and once 25250 was broken and moved higher and closed above it and now heading towards the target of 25400/25488/25555/25632. Bearish below 25050 for a move back towards 24970/24800. Bank Nifty does 25400 holding 25250 and heading towards the higher target of 25488/25555/25632. Bearish below 25200 for a move back towards 25050/24980. Important intraday time for reversal can be at 9:39/ 2:11 . Trading Resolution for Financial Year 2018-19
- Bank Nifty April Future Open Interest Volume is at 19 lakh with addition of 0.92 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @24358 closed above it and rallied 1000 points.
- 25500 CE is having highest OI @3.5 Lakh resistance at 25500 followed 25700.24000-26000 CE added 1.2 lakh in OI so bears added position at higher level.
- 24500 PE is having highest OI @8.6 Lakh, strong support at 25000 followed by 24800.24000-26000 PE added 2.6 lakh in OI so bulls made strong support in range of 24600-24800.
- Bank Nifty Futures Trend Deciding level is 25311 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24861. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 25420 Tgt 25500,25595 and 25666 (Bank Nifty Spot Levels)
Sell below 25300 Tgt 25240,25150 and 25050 (Bank Nifty Spot Levels)
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