Ideas and Forecast on NIFTY BANK after Big Move on Friday

• As discussed in last analysisWe have important Bearish Aspect forming tommrow between Mars and Neptune so another good move should be seen. Bears need to break 20164 for a move back towards 19881/19600. Bulls will get active above 20449 for a move back to 20736/21025.We opened gap down based on bearish aspect which did not allow us to enter short but from the open bank nifty bulls got active and levels shared on twitter helped in capturing the big move happened today. Now Bulls need to move above 20736 for a move back to 21025/21316. Bears will get active below 20450 for a move towards 20200/20025.

• Intraday time for reversal can be at 9:19/11:26/12:32/2:07/2:55 How to Find and Trade Intraday Reversal Times

• Bank Nifty May Future Open Interest Volume is at 18.4  lakh with addition of 2 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @18001 closed above it

• 21000 CE is having highest OI @6 Lakh resistance at 21000 followed 21300.19000-22000 CE added 8 Lakh in OI so bears added position in the zone of 21000-21500.

• 20000 PE is having highest OI @8 Lakh, strong support at 20000 followed by 19800.19000-21000 PE added 14 Lakh OI so bulls making support in the range of 20300-20500.

• Bank Nifty Futures Trend Deciding level is 20104 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 20398 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 20750 Tgt 20955,21090 and 21225 (Bank Nifty Spot Levels)

Sell Below 20480  Tgt 20310,20150 and  20000  (Bank Nifty Spot Levels)

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