Bank Nifty break 24100 capitulation on cards, EOD Analysis

As Discussed in Last Analysis Low made today was 24095 so bulls continue to hold time cycle low of 24100, but as market is touching support again and again suggesting crack are showing, Any hourly close below 24050 can see face decline towards 23800/23600. Till 24100 is holding bulls can bounce back towards 24250/24355/24480. Bank Nifty opened with gap down below 24100 and made low of 23605 near our target of 23600. As we are trading below 24100 bears can extend fall towards 23400/23250/23000/22720. Bullish above 24100 only. Gann Angles helped up in capturing the top and hopefully the bottom also in range of 23000-22720. Important intraday time for reversal can be at 10:17/12:03/2:42. Capturing your Ideas Could Be Your Secret to Success

Bank Nifty March Future Open Interest Volume is at 18.9 lakh with liquidation of 0.96 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25010, closed below it.

24500 CE is having highest OI @7.9 Lakh resistance at 24000 followed 24500.24000-26000 CE added 5.2 lakh in OI so bears added position at higher levels.

23000 PE is having highest OI @4.8 Lakh, strong support at 23000 followed by 23500.23000-25000 PE liquidated 4 lakh in OI so now 24000 will act as strong resistance

Bank Nifty Futures Trend Deciding level is 23722 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24162. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy above 23700 Tgt 23775,23881 and 24000 (Bank Nifty Spot Levels)