- As Discussed in Last Analysis As seen in below chart we continue to hold gann angle and today was an important time cycle day today, so we can see price time squaring. Bullish above 25000 for a move towards 25160/25250/25500. Bearish below 24750 for a move towards 24500/24260. Bank Nifty showed the effect of price time squaring rallying 350 points as we have discussed in last post. Bulls need to hold the range of 25050-25100 for this up move to continue towards 25000/25852. Bearish below 25000 for a move towards 24900/24760. Important intraday time for reversal can be at 11:24/2:45 How to stay grounded in Trading.
- Bank Nifty March Future Open Interest Volume is at 17.7 lakh with addition of 70.80 Lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover cost @25010, rallied 400 points.
- 25500 CE is having highest OI @4 Lakh resistance at 25500 followed 26000.25000-27000 CE added 4.4 lakh in OI so bears added position at higher levels.
- 25000 PE is having highest OI @5.1 Lakh, strong support at 25000 followed by 24500.25000-27000 PE added 0.96 lakh in OI support at 24800-25000 at start of the series.
- Bank Nifty Futures Trend Deciding level is 25269 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25108. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 25350 Tgt 25420,25500 and 25655 (Bank Nifty Spot Levels)
Sell below 25250 Tgt 25120,25000 and 24900 (Bank Nifty Spot Levels)
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