Bank Nifty Analysis for 16 April 2021

bank nifty Technical level 16-04-2021

As per Level Analysis in Bank Nifty Strong Resistance 32300 if Cross & Sustain Bull will be active for Up Side Move next Resistance 32460/32712/32833.

strong Support In bank Nifty 31900 if break then bear will be active for short major down side support level is 31770/31518/31400. 31400 Strong Positional Support.

33000 CE is having highest OI @19.1 Lakh resistance at 32500 followed 33000.33000-35000 CE added 17.2 Lakh in OI so bears added position in the zone of 33000-34000.

31500 PE is having highest OI @15.3 Lakh, strong support at 31500 followed by 32000 .31000-32000 PE added 28.3 Lakh OI so bulls making support in the range of 31300-31500.

Bank Nifty Futures Trend Deciding level is 31900 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 32833.

Buy Above 32300 Tgt 32427,32480 and 32712 (Bank Nifty Spot Levels)

Sell Below 31900 Tgt 31810,31777 and 31518 (Bank Nifty Spot Levels)

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