Bank Nifty April Expiry Analysis

• As Discussed in Last Analysis  Bulls did the target of 25120 above 25000, High made was 25123 and now bulls need to hold 25000 for the next towards 25200/25560. Bearsih below 25920 for move towards 24840/ 24768/24624/24500. Bank Nifty made high of 24993 so traded below 25000 keep bulls out of game from open as soon as 24920 was gone did 2 target till 24768 so bears were able to trade on short side also we saw the effect of time cycle based on astro. As we have expiry tommrow break of 24768  can see fast move till 24624/24480. Bullish above 24920 can see fast move till 25050/25200. Bank Important intraday time for reversal can be at 11:56/ 2:53 .  Trading Resolution for Financial Year 2018-19

• Bank Nifty April Future Open Interest Volume is at 12.3 lakh with liquidation of 3.3 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24358  closed above it and rallied 1000 points.
  

• 25000 CE is having highest OI @10.9 Lakh resistance at 25000 followed 25100.24000-26000 CE added 7.4 lakh in OI so bears added  position at higher level and expiry mostly below 25000.

 

• 24500 PE is having highest OI @7.9 Lakh, strong support at 24600 followed by 24500.24000-26000 PE  liquidated 7.7  lakh in OI so bulls strong support is beached and any 1 hour close below 24768 and see the fall extending towards 24500.
  

 

• Bank Nifty Futures Trend Deciding level is 24850 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24916.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 24850 Tgt 24920,25000 and 25120 (Bank Nifty Spot Levels)

Sell below 24768 Tgt 24701,24590 and 24500 (Bank Nifty Spot Levels)