- As discussed in Last Analysis Bulls needs to hold now 21050 for the move towards the life high of 21336. Bearish below 21000 for a move towards 20850 Low made today was 20979 and closed just above 21050 suggesting bulls are still in the game and holding 21050 we can see move towards 21177/21246/21320. Bearish below 20960 for a move towards 20900/20820. Bank Nifty closed above 21050 and today did the target 21246 High made was 21264. Bulls needs to continue to hold 21150 for a move towards 21336/21400. Bears need close below 21000 for a move towards 20870. Golden Mantra: 1 percent improvements in your life
- Bank Nifty March Future Open Interest Volume is at 16.9 lakh with liquidation of 2.2 Lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @20877, closed above it.
- 21500 CE is having highest OI @11.9 Lakh resistance at 21500. 20000-22000 CE saw liquidation of 2.3 lakh in OI suggesting bears losing control of 21300-21400.
- 21000 PE is having highest OI @8.3 Lakh, strong support at 20100 followed by 20800, Bulls added Huge 5 Lakh position in OI in range of 20000-22000 suggesting 20800 followed by 21000 strong support.
Buy above 21280 Tgt 21330,21400 and 21460 (Bank Nifty Spot Levels)
Sell below 21200 Tgt 21150,21090 and 21000 (Bank Nifty Spot Levels)
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