Bank Nifty Analysis PM Modi Announces 20 Lakh crore Package

As discussed in last analysis 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. Bank Nifty opened with gap down and did all target on downside and bounced from gann angle support as shown in below chart, As Our Beloved PM Modi has announced Financial Package of 20 Lakh cores so market should open with gap up as Neural also indicated down on 12 and than upmove on 13, Bulls need to move above 19050 for a move back to 19321,19600,19881. Bears will get active below 18769 for a move back to 18496,18225,17957.

Intraday time for reversal can be at 10:22/11:16/1:40/2:29 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 14.5 lakh with addition of 0.49 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @20762 closed below it

20000 CE is having highest OI @5.3 Lakh resistance at 20000 followed 20500.19000-22000 CE added 22.8 Lakh in OI so bears added position in the zone of 20000-20500.

18500 PE is having highest OI @2.3 Lakh, strong support at 18500 followed by 18300.18000-20000 PE liquidated 1.7 Lakh OI so bulls making support in the range of 18500-18300.

Bank Nifty Futures Trend Deciding level is 18522 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19660 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 19000 Tgt 19150,19310 and 19490 (Bank Nifty Spot Levels)