Bank Nifty EOD Analysis

As Discussed in Last Analysis We were able to ride rally from 27790 to 28900 a rally of 1110 in just 3 days based on WD Gann 10 Year Cycle. Range of 28900-28944 is important supply zone, Closing above it can see quick move to 29088/29232/29376. High made today was 29070 but failed to close above the supply zone of 28944 as close was 28923.Range of 28900-28944 is important supply zone, Closing above it can see quick move to 29088/29232/29376. Bearish below 28800 for a move towards 28645.

Intraday time for reversal can be at 9:59/12:51/1:40 .How Your Mind Play during Whipsaw in Trading

Bank Nifty March Future Open Interest Volume is at 24.4 lakh with liquidation of 0.37Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27064 closed above it,Low made Friday was 27051 and rallies 1900 points

29000 CE is having highest OI @2.2 Lakh resistance at 29000 followed 29200. 27000-29000 CE added 0.77 Lakh in OI so bears added position in the zone of 29000-29200.

28500 PE is having highest OI @5 Lakh, strong support at 28500 followed by 28000.26000-28000 PE added 2.6 Lakh OI so bulls making strong support in the range of 28500-28600.

Bank Nifty Futures Trend Deciding level is 29002 For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27961 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .