Bank Nifty gives breakout above 16000,EOD Analysis

•  As discussed in last analysis   Till 15700 is held move towards 16100-16130 is very much possible, bearish only on close below 15500.  Bank Nifty touched the gann arc on 11 April where we have gann time analysis also suggesting big move possible and we had a 3 straight rising day so price will now move and touch the upper gann arc which comes in range of 16600-16700, Bulls should book some profit in range of 16650-16700 in coming week. Support is at 16000. RICH DENNIS: A GUNSLINGER NO MORE

• Bank Nifty April Future Open Interest Volume is at 17.2  lakh with addition of 0.77  lakh, with decrease in Cost of Carry suggesting short positions were added today.Rollover cost @16000 and Bank Nifty gave impulsive move once closed above it,  Do you know your Risk of Ruin in trading ?
  

• 17000 CE is having highest OI @7.3 Lakh resistance formation @17000 . 15000-17000 CE liquidated 6.6 lakh so bear ran for cover as the rise was impulsive and max OI reduction was seen in 16500, suggesting bears were caught off guard.
  

• 15500 PE is having highest OI @5.7 Lakh, strong support at 15500 followed by 15000, Bulls added 3.4 Lakh in OI in 15000-17000 PE as bank nifty closed above the demand zone of 16000 so bulls added aggressively today in 16000 PE
  

• Bank Nifty Futures Trend Deciding level is 16303 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 15961 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 16400 Tgt 16501,16651 and 16792 (Bank Nifty Spot Levels)

Sell below 16200 Tgt 16130,16050 and 15980 (Bank Nifty Spot Levels)

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