Mercury at Perihelion Bank Nifty Analysis

As discussed in last analysis Bank Nifty should show big move on Monday, Bulls need to move above 19550 for a move back to 19683,19881,20150. Bears will get active below 19380 for a move back to 19050/18850.Bank Nifty gave big move as per expectation showing effect of Mercury at Perihelion, below 19380 made low of 18900 near our final target of 18850. Now Bears need to break 18900 for a move back to 18769/18496/18225. Bulls will get active above 19200 for a move towards 19321/19600/19881.

Intraday time for reversal can be at 10:16/12:56/1:35/2:31 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 14 lakh with addition of 0.10 Lakh, with increase in Cost of Carry suggesting shorts positions were closed today. Bank nifty Rollover cost @20762 closed below it

20000 CE is having highest OI @6.5 Lakh resistance at 20000 followed 20500.19000-22000 CE added 12.8 Lakh in OI so bears added position in the zone of 20000-20500.

18500 PE is having highest OI @3.2 Lakh, strong support at 18500 followed by 18300.18000-20000 PE added 3.1 Lakh OI so bulls making support in the range of 19000-18800.

Bank Nifty Futures Trend Deciding level is 18950 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19823 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 19075 Tgt 19190,19310 and 19490 (Bank Nifty Spot Levels)