As discussed in Last Analysis Bulls were able to do 2 target on upside till 30551 and now waiting for a 31750/31940 till we are holding 31300. Bears will get active below 31200 for a move back to 31000/30850.Tomorrow is important Astro Date. 31750 done. Now bulls need a close above 31850 for the up move to continue till 32000/32225. Bears have there change below 31450 for a move back to 31200/31000. Todays High and Low break can easily see 300-500 points move in Bank nifty.
Bank Nifty Dec Future Open Interest Volume is at 8.7 lakh with addition of 3.1 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29919 closed above it.
32000 CE is having highest OI @4.8 Lakh resistance at 31800 followed 32000.30000-32000 CE added 2 Lakh in OI so bears covered position in the zone of 31800-32000.
31000 PE is having highest OI @7.8 Lakh, strong support at 31200 followed by 31000.30000-32000 PE added 16 Lakh OI so bulls making support in the range of 31200-31400.