- As Discussed in Last Analysis Bulls now will get active above 29711 for a move back to 29908/30057. Bears will get active below 29510 for a move towards 29363/29225. Low made was 29563 so bulls protected 29510 and bulls once above 29711 did all our target on upside, so bulls were able to rise the rally. Beauty of gann analysis keep you ahead of the curve, Now Bank Nifty bulls should close above 30081 for this up move to continue towards 30167/30254. Bears need to move below 29990 for a move back to 29900/29821/29735. 29 April is important astro date so effect will be seen on 30. 30081 should be crossed else we will again see a correction below 29990 Build Good Trading Habits
- Intraday time for reversal can be at 10:31/12:04/2:38 How to Find and Trade Intraday Reversal Times
- Bank Nifty May Future Open Interest Volume is at 19 lakh with liquidation of 0.15 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29964 closed above it.
- 30500 CE is having highest OI @11.9 Lakh resistance at 30300 followed 30500. 29000-31000 CE added 0.75 Lakh in OI so bears added in the zone of 30200-30500.
- 29500 PE is having highest OI @2.2 Lakh, strong support at 29700 followed by 29500.29000-31000 PE added 0.9 Lakh OI so bulls making strong support in the range of 29700-29500.
- Bank Nifty Futures Trend Deciding level is 29964 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29991 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 30060 Tgt 30150,30240 and 30360 (Bank Nifty Spot Levels)
Sell below 29980 Tgt 29875,29740 and 29610 (Bank Nifty Spot Levels)
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