- Bank Nifty January Future Open Interest Volume is at 21.7 lakh with liquidation of 3.2 Lakh with decrease in Cost of Carry suggesting long positions were closed today .Bank Nifty rollover cost coming @ 16957 and corrected heavily one started trading below Rollover Price.How To Identify Market Tops and Bottom
- 16000 CE is having highest OI @7.8 Lakh strong resistance formation @16000. 15500 CE saw 0.34 Lakh liquidation by bears ran for cover as 15380 was broken .15000-16000 CE added 0.81 Lakh in OI.
- 15000 PE is having highest OI @7 lakh, strong support at 15000 and 15400 is also strong support looking at OI addition.15000-16000 PE saw 0.98 lakh addition so bulls added aggressively today in 15400
Buy above 15700 Tgt 15765,15850 and 16000 (Bank Nifty Spot Levels)
Sell below 15550 Tgt 15480,15390 and 15290 (Bank Nifty Spot Levels)
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