Bank Nifty & Nifty Technical Analysis

As Discussed in this video Now Bulls need to move above 33300 for a move back to 33500/33800/3417. Bears below 32000 can see quick fall towards 31900/31600/31485. We are completing important time cycle on 08 April so expect market to reamin voaltile till than.

  • Bank Nifty April Future Open Interest Volume is at 19.9 lakh with liquidation of 8.8 Lakh, with increase in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @33759 closed below it.

  • 33000 CE is having highest OI @11.2  Lakh resistance at 33000 followed 33500.33000-35000 CE added 14 Lakh in OI so bears added position in the zone of 33500-34000.

  • 32000 PE is having highest OI @6.7 Lakh, strong support at 32000 followed by 31500 .32000-34000 PE added 10.3 Lakh OI so bulls making support in the range of 32000-31500.

  • Bank Nifty Futures Trend Deciding level is 32820 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 33393.

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