Bank Nifty does 20500,another failed attempt at gann arc,EOD Analysis

• As discussed in Last Analysis Bank Nifty did not did our target of 20500 and whipsaw the trade as we went up and close above 20750 thus stoping out trades who were short, As we also failed to close above 20800 so both bulls and bears are in neutral zone. Close above 20850 we need to enter the green arc Bulls can again scale back to 20200/202500. Bearish below 20750 for a move towards 20500/20300. Nifty opened gap up above 20850 and as soon as 20750 was broken moved back towards the lower end of range at 20500 low made was 20517, near the gann support line as shown below, As we have weekly closing tomorrow bulls would try to protect 20500 and bears will need a close below 20450 for further down move, If 20500 is held we can see again upmove towards 20750/20800.  Learn from Your Trading Mistakes
  

• Bank Nifty March Future Open Interest Volume is at 25 lakh with liquidation of 4.23, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @20877, High made was 20900 and closed below it.
  

• 21000 CE is having highest OI @5 Lakh resistance at 21000 followed by 21500. 19000-21000 CE saw liquidation of 0.40 lakh in OI.
  

• 20000 PE is having highest OI @6.4 Lakh, strong support at 20500 followed by 20300, Bulls added 6.5 Lakh in OI in range of 19000-21000.
  

• Bank Nifty Futures Trend Deciding level is 20796 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 20800. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 20670 Tgt 20750,20810 and 20905 (Bank Nifty Spot Levels)

Sell below 20500 Tgt 20420,20300 and 20100 (Bank Nifty Spot Levels)

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