- As discussed in Last Analysis 21000 will become an important support on lower side, break of 21000 can see fast move towards 20900/20750. Higher side move above todays high of 21274 can see fast move towards 21400/21500 where is gann angle resistance. Long above 21300 for a move towards 21450/21500. Bearish below 21000 for a move towards 20800/20600. High made today was 21289 and low made was 21194 so bulls not breaking 21300 and bears not breaking 21000 and giving market time to consolidate gains and move towards the next move. Long above 21300 for a move towards 21450/21500. Bearish below 21000 for a move towards 20800/20600. The Bitter Truth About Trading
- Bank Nifty March Future Open Interest Volume is at 22.9 lakh with liquidation of 0.58 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @20877, closed above it and rallied more than 500 points.
- 21500 CE is having highest OI @8 Lakh resistance at 21500. 20000-22000 CE saw addition of 0.01 lakh in OI suggesting bears are slowly losing control on 21500 CE.
- 20500 PE is having highest OI @5.6 Lakh, strong support at 20500 followed by 21000, Bulls added 3.3 Lakh in OI in range of 20000-22000 suggesting bulls are sealing 21000 for expiry.
Buy above 21150 Tgt 21220,21300 and 21370 (Bank Nifty Spot Levels)
Sell below 21050 Tgt 21000,20930 and 20850 (Bank Nifty Spot Levels)
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