BANK NIFTY EOD Analysis for 17 Feb

• As discussed in Last Analysis  Now Bulls need to move above 37450 for a move back to 37636/37831/38025. Bears will get active below 37050 for a move back to 36864/36673/36481. Bulls were able to do 1 target on upside and 1 target on downside. Now Bulls need to move above 37249 for a move back to 37443/37636/37831. Bears will get active below 37057 for a move back to 36864/36673/36481.  

• Intraday time for reversal can be at 10/10:47/11:33/12:18/2:12 How to Find and Trade Intraday Reversal Times

• Bank Nifty Feb  Future Open Interest Volume is at 17 lakh with liquidation of 2.7 Lakh, with increase in Cost of Carry suggesting LONG positions were CLOSED today. Bank nifty Rollover cost @30980 closed above it.

• 38000 CE is having highest OI @11.1 Lakh resistance at 37500 followed 38000.36000-38000 CE added 19 Lakh in OI so bears added position in the zone of 37500-38000.

• 36500 PE is having highest OI @10 Lakh, strong support at 36500 followed by 36000 .35000-37000 PE added 12 Lakh OI so bulls making support in the range of 35000-36000.

• Bank Nifty Futures Trend Deciding level is 37268  (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 36538 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy Above 37150 Tgt 37270,37400 and 37620 (Bank Nifty Spot Levels)

Sell Below 37000 Tgt 36888,36762 and 36666 (Bank Nifty Spot Levels)