Bank Nifty fall 500 point as Mercury Change Sign

As Discussed in Last Analysis Now Bulls need to close above 30600 for up move to continue towards 30700/30816/30960/31080. Bears will get active below 30380 for a move back to 30240/30096. Bank Nifty opened with a gap up made high of 30669 and corrected showing the effect of Mercury change, and did our target mentioned on twitter on downside.Now Bulls need to go above 30225 for a move back to 30396/30522/30700. Bears will get active below 30140 for a move back to 30018/29900. As per Gann Cycle 30700 is a strong zone of resistance big breakout would be seen above that only.

Intraday time for reversal can be at 10:29/12:39/1:34 How to Find and Trade Intraday Reversal Times

Bank Nifty April Future Open Interest Volume is at 19.1 lakh with liquidation of 1.56 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29967.

30500 CE is having highest OI @8.6 Lakh resistance at 30500 followed 30700. 29000-31000 CE added 8.2 Lakh in OI so bears added in the zone of 30600-30800.

30000 PE is having highest OI @6 Lakh, strong support at 30000 followed by 29800.29000-31000 PE added 6.8 Lakh OI so bulls making strong support in the range of 30000-30200.

Bank Nifty Futures Trend Deciding level is 30407 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 30289 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .