Bank Nifty Technical Update for 20 Feb

As Discussed in Last Analysis We are also near gann angle support zone so holding 25100 and hourly close above 25250 can see fast up move. Below 25100 we can see fast down move towards 25000/24900/24760. Important intraday time for reversal can be at 11:26/12:55. Bank Nifty opened gap up but as soon as 25100 broken so the fast fall towards 24824 near our final target of 24760. As today was time cycle date high and low are important break of any side can see fast move of 300-400 points. Bank Nifty bulls need to move above 25100 for a move towards 25325/25510.Bearish below 25000 for a quick move towards 24900/24750/24510. Bank Nifty made today bottom exactly at 12:55 and bounced almost 300 points. Important intraday time for reversal can be at 10:32/12:15 “Piano Lessons” for life

Bank Nifty Feb Future Open Interest Volume is at 21.2 lakh with liquidation of 2.1 Lakh, with increase in Cost of Carry suggesting short positions were covered today. Bank nifty Rollover cost @27248, closed below it and corrected 2248 points.

26000 CE is having highest OI @9.2 Lakh resistance at 25500 followed 26000.25000-27000 CE added 7.7 lakh in OI so bears added position at higher levels.

25000 PE is having highest OI @7.1 Lakh, strong support at 25000 followed by 25300.25000-27000 PE liquidated 7 lakh in OI still strong support at 25000-24800 .

Bank Nifty Futures Trend Deciding level is 24996 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25421. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy above 25100 Tgt 25200,25325 and 25450 (Bank Nifty Spot Levels)