Bank Nifty bulls close above gann angle,EOD Analysis

As Discussed in Last Analysis High made today was 27522 and Low made was 27152 so bulls were unable to close above 27485 and bears below 27200 thus whipsawing both bulls and bears on expiry day. Plan remains Bulls need a close above 27485 gann angle resistance as shown in below chart for the next rally towards 27780/ 28153/28502. Bearish below 27151 for a move towards 27020/26923/26780. Low made today was 27408 as soon as 27485 was broken bulls took bank nifty towards 27652 but failed to achieve our target of 27780,As close is above 27485 so bulls have upperhand and can move towards our target of 27780 as close is also above gann angle. Bearish below 27400 for a move towards 27225/27151/27000. Option Trading Strategy for Union Budget 2018

Bank Nifty Feb Future Open Interest Volume is at 22.8 lakh with addition of 0.003 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @27248, closed above it

28000 CE is having highest OI @4.2 Lakh resistance at 28000 followed 28500.26000-29000 CE added 1.5 lakh in OI so bears added at higher levels.

27000 PE is having highest OI @4.5 Lakh, strong support at 27200 followed by 27000.26000-29000 PE added 3.1 lakh in OI strong support at 27000-27100 .

Bank Nifty Futures Trend Deciding level is 27552 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27459. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy above 27530 Tgt 27610,27700 and 27777 (Bank Nifty Spot Levels)