- As Discussed in Last Analysis Now Bulls need to move above 32680 for a move back to 32888/33100/33285. Bears will get active below 32333 for a move back to 32223/32100/31940/31800. We are completing important time cycle on 08 April so expect market to reamin voaltile till than. Till we do not close above Mercury Ingress High its Sell on Rise Market. It was a volatile day with RBI policy still bulls were able to do 2 target on upside and bears 1 target on downside and intrady levels shared on Twitter worked perfectly, Based on Time Cycle we are in for a 1051 points move in Bank Nifty in next 2 trading session, Bulls need to move above 33201 for a move towards 33462/33717/33980/34243. Bears will get active below 32883 for a move back to 32666/32357/32100/31800.
- Intraday time for reversal can be at 9:15/10:15/11:19/12:53/2:35 How to Find and Trade Intraday Reversal Times
- Bank Nifty April Future Open Interest Volume is at 19.3 lakh with liquidation of 0.88 Lakh, with increase in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @33759 closed below it.
- 33500 CE is having highest OI @9.7 Lakh resistance at 33500 followed 34000.33000-35000 CE added 10.9 Lakh in OI so bears added position in the zone of 33500-34000.
- 32000 PE is having highest OI @13.4 Lakh, strong support at 32000 followed by 31500 .32000-34000 PE added 26 Lakh OI so bulls making support in the range of 32000-32500.
- Bank Nifty Futures Trend Deciding level is 32821 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 33393 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Brameshji. Thanks so much. Your BN Levels are awesome and I ended up on winning trades. Thanks once again. Hariharan. Mumbai