- As discussed in Last Analysis High made today was 22380 near our target of 22374. So Bank Nifty continue with its uptrend, Now bulls need close above 22380 for a quick move towards 22547 and 22800. Support is in range of 21950-22000 below which we can see quick fall towards 21800/21500. Any close above 22400 will be bullish for next move towards 22800/23200 with minor resistance at 22547. High made today was 22383 so bank nifty facing lot of challenge in crossing our level of 22380, once bulls are able to cross 22383 we can see quick move towards 22547/22559. Range of 22547/22559 is very very crucial range if not crossed we can see the much expected correction. Bullish above 22380 for a move towards 22547/22559, Bearish below 22180 for move towards 22000/21850 Leadership Principles To Learn From An Eagle
- Bank Nifty May Future Open Interest Volume is at 35.1 lakh with addition of 1.5 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @22035, closed above it and Rollover % at 75
- 23000 CE is having highest OI @6.6 Lakh resistance at 23000 followed 22500. 21000-23000 CE saw addition of 3.9 lakh in OI suggesting bears adding aggressively in range of 22700-23000 .
- 21500 PE is having highest OI @7.1 Lakh, strong support at 21500 followed by 21300, Bulls added huge 10.2 Lakh position in OI in range of 21500-22500 making strong base in range of 21500-21800.
Buy above 22390 Tgt 22440,22500 and 22630 (Bank Nifty Spot Levels)
Sell below 22280 Tgt 22230,22120 and 22000 (Bank Nifty Spot Levels)
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