Bank Nifty forms hanging man,EOD Analysis

•  As discussed in last analysis  Bank Nifty made high of 15945 where it complete the Butterfly pattern also as discussed in Weekly Analysis Bank . Now Next 100 points range of 15945-16049 is very crucial where we will see lot of supply coming, unable to cross Bank Nifty can see 200-300 point correction. Bank Nifty updated butterfly pattern is shown below, PRZ zone comes in range of 16000-16080, where we are also seeing shark pattern completion also shown below, so range of 16000-16080 is very very crucial for coming 5 days as we have trading holiday after tomorrow. Bank Nifty  Support has increased to 15555-15600, Resistance in range of 16000-16050.  Are You Emotional Trader ?

• Bank Nifty March Future Open Interest Volume is at 24.5 lakh with addition of 1 lakh, with increase in Cost of Carry suggesting long positions were added today. Bank Nifty able to close above  Rollover price @14115 and gave 1800 Points. How To Identify Market Tops and Bottom
  

• 16000 CE is having highest OI @9.3 Lakh resistance formation @16000. 14500-15500 CE saw 1.1 lakh liquidation as bears  ran for cover  as bank nifty is closing above 15500.
  

• 15500 PE is having highest OI @6.2 Lakh, strong support at 15500 followed by 15000, Bulls added aggressively  in 15500/16000 PE as OI increased by 1.7 Lakh so bulls continue to add as Bank Nifty break the range of 15500.
  

• Bank Nifty Futures Trend Deciding level is 15896 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 15058 . Bank Nifty TC level gave 1000 points till now.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 16000 Tgt 16070,16200 and 16320 (Bank Nifty Spot Levels)

Sell below 15880 Tgt 15800,15710 and 15630(Bank Nifty Spot Levels)

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