Bank Nifty Feb Expiry Analysis

• As Discussed in Last Analysis  Bank Nifty has been holding to its gann angle line at 24824 if its get broken we can see fast fall towards 24517. Bullish above 24900 for a move towards 25000/25160/25250. Bank Nifty bulls continue holding its gann angle we broke 24824 but bounced equally fast from gann angle as shown in below chart. As today in expiry fresh short below 24800 can see fast move towards 24650/24500. Bullish above 25000 for a move towards 25160/25250. Today is another important time cycle date, good move will be seen in bank nifty in coming 2 days.  Important intraday time for reversal can be at 11:56/2:06 How to stay grounded in Trading.

• Bank Nifty Feb Future Open Interest Volume is at 16.7 lakh with liquidation of 4.4 Lakh, with decrease in Cost of Carry suggesting short positions were covered today. Bank nifty Rollover cost @27248, closed below it and corrected 2248 points.
  

 

• 25300 CE is having highest OI @5.2 Lakh resistance at 25100 followed 25300.25000-26000 CE added 4.5 lakh in OI so bears added position at higher levels.

 

• 24500 PE is having highest OI @6.7 Lakh, strong support at 24800 followed by 24500.25000-27000 PE  added 7.1 lakh in OI support at 24800 at test (Bounced from 24796)
  

 

• Bank Nifty Futures Trend Deciding level is 24886 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25141.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 24920 Tgt 25000,25118 and 25225 (Bank Nifty Spot Levels)

Sell below 24820 Tgt 24760,24650 and 24500 (Bank Nifty Spot Levels)