- As Discussed in Last Analysis Now Bulls need to move above 29909 for a move back to 30000/30089/30165. Bears will get active below 29700 for a move towards 29532/29447. Bank Nifty bears got whipsawed today below 29700, and continue to hold gann angle support zone and close near vedic number 29791. Market continue to be in sideways move just like it did in 2014 as discussed in video. Now Bulls need to move above 29851 for a move back to 29971/30089/30165. Bears will get active below 29700 for a move towards 29532/29447.
- Intraday time for reversal can be at 9:46/11:40/1:14 How to Find and Trade Intraday Reversal Times
- Bank Nifty April Future Open Interest Volume is at 17.7 lakh with liquidation of 0.16 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29967.
- 30500 CE is having highest OI @4.8 Lakh resistance at 30200 followed 30500. 29000-31000 CE added 0.63 Lakh in OI so bears added in the zone of 30000-30300.
- 29500 PE is having highest OI @4.1 Lakh, strong support at 29700 followed by 29500.29000-31000 PE liquidated 0.6028 Lakh OI so bulls making strong support in the range of 29600-29800.
- Bank Nifty Futures Trend Deciding level is 29836 For Intraday Traders). BNF Trend Changer Level (Positional Traders) 30295 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 29841 Tgt 29939,30055 and 30165 (Bank Nifty Spot Levels)
Sell below 29750 Tgt 29662,29521 and 29444 (Bank Nifty Spot Levels)
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