- As discussed in Last Analysis So bank nifty continue to trade in the range we discussed 22180-22500, trend trades sit on sidelines till range in broken, scalpers buy low sell high till range in broken. Bank Nifty opened with gap up 22618 but came down to touch the breakout zone made low of 22450 and zoomed above 22500 for 250 points move as high made was 22743. Holding 22700 we can see up move towards 22940/23330. Bearish below 22500 for a move towards 22350/22200 Trading Sins
- Bank Nifty May Future Open Interest Volume is at 36.2 lakh with addition of 4.2 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @22035, closed above it.
- 23000 CE is having highest OI @4.7 Lakh resistance at 23000 followed 22500. 21500-23500 CE saw addition of 2.4 lakh in OI suggesting bears after covering from past 2 session added in range of 23000-23500.
- 21500 PE is having highest OI @9.7 Lakh, strong support at 22000 followed by 21500, Bulls added 5.4 Lakh position in OI in range of 21500-22500 making strong base in range of 22000-21800.
Buy above 22750 Tgt 22820,22930 and 23000 (Bank Nifty Spot Levels)
Sell below 22680 Tgt 22620,22500 and 22350 (Bank Nifty Spot Levels)
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