Bank Nifty Analysis for 24 March

• As Discussed in Last Analysis Now Bulls need to move above 34714 for a move back to 34900/34040/34300. Bears below 33555 can see quick fall towards 33278/33100/32920/32800. Bears unable to break 33555 and bulls once 34714 did all target on upside. Now bulls need to break 34366 for the upmove towards 34489/34777/35005. Bears below 33990 can see quick fall towards 33750/33500/33317. Tommorow we will complete 1 year from the low made of 24 March 2020.

• Intraday time for reversal can be at 9:15/10:40/11:19/12:45/1:51/2:23 How to Find and Trade Intraday Reversal Times

• Bank Nifty April Future Open Interest Volume is at 15.2 lakh with addition of 1.4 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @35984 closed below it.

• 35000 CE is having highest OI @12.1  Lakh resistance at 35000 followed 35500.34000-36000 CE added 7.3 Lakh in OI so bears added position in the zone of 34000-34500.

• 33500 PE is having highest OI @12.4 Lakh, strong support at 3350 followed by 33000 .34000-36000 PE added 12 Lakh OI so bulls making support in the range of 33000-33500.

• Bank Nifty Futures Trend Deciding level is 34023 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 33889  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy Above 34225 Tgt 34343,34489 and 34666 (Bank Nifty Spot Levels)

Sell Below 34119 Tgt 34020,33800 and 33666(Bank Nifty Spot Levels)