- As Discussed in Last Analysis Long above 30450 for a move back to 30577/30650/30816. Bearish below 30290 for a move towards 30125/30038/29951. Low made was 30036 so we did 2 target below 30290 and and we corrected all the way till 30218 and our intraday time cycle at 1:48 worked perfectly. Strong Support is in range of 29880-29900. As we have RBI Policy tomorrow so Bulls need to hold support zone,else we will see bigger correction setting in for 29500/29225. Bulls will be active above 30386 for a move back to 30473/30560/30650
- Intraday time for reversal can be at 10:19/11:44/1:44 How to Find and Trade Intraday Reversal Times
- Bank Nifty April Future Open Interest Volume is at 19.9 lakh with liquidation of 0.65 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29967.
- 30500 CE is having highest OI @3.5 Lakh resistance at 30500 followed 30800. 29000-31000 CE added 1.64 Lakh in OI so bears added in the zone of 30500-30800
- 29500 PE is having highest OI @2.8 Lakh, strong support at 30000 followed by 29800.29000-31000 PE added 1 Lakh OI so bulls making strong support in the range of 29800-30000.
- Bank Nifty Futures Trend Deciding level is 30540 For Intraday Traders). BNF Trend Changer Level (Positional Traders) 30511 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 30125 Tgt 30225 ,30333 and 30450 (Bank Nifty Spot Levels)
Sell below 30000 Tgt 29000,29723 and 29650 (Bank Nifty Spot Levels)
Upper End of Expiry : 30389
Lower End of Expiry:29797
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