Bank Nifty close below 16500,EOD Analysis

As discussed in last analysis As we have gann trendline also near 16500, so need to be extra cautious in coming week as if 16500 get broken we can see quick downfall till 16300-16250. Bullish only on close above 16792. We closed below 16500, fall was seen in last 30 minutes of trade, so we need to see a follow up down move on Monday below 16431 for a fall till 16349/16200. Unable to close below 16431 we can bounce back again towards 16734. So 16431 levels on downside and 16734 on upside needs to be closely watched in expiry week.Impossible Is Nothing

Bank Nifty May Future Open Interest Volume is at 16.5 lakh with liquidation of 7.5 lakh, with rise in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost is coming at 16860 closed below it. Do you know your Risk of Ruin in trading ?

17000 CE is having highest OI @8.1 Lakh resistance formation @17500. 16000-18000 CE saw 1 lakh addition in OI so bears came back furiously as bank nifty closed above 16500.

16000 PE is having highest OI @6.7 Lakh, strong support at 16000 followed by 16500, Bulls liquidated 1 Lakh in OI in 16000-18000 PE as Bank nifty closed below 16500.

Bank Nifty Futures Trend Deciding level is 16564 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 16672 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .