As discussed in Last Analysis 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 continue with its rally and closed above 31800 suggesting move to continue towards 32041/32250/32400. Bears will get active below 31660 for a move back to 31500/31300.
Bank Nifty Dec Future Open Interest Volume is at 10.9 lakh with addition of 2.1 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 @6.1 Lakh resistance at 32000 followed 32200.30000-32000 CE liquidated 1.1 Lakh in OI so bears covered position in the zone of 31800-32000.
31500 PE is having highest OI @7.5 Lakh, strong support at 31500 followed by 31300.30000-32000 PE added 14 Lakh OI so bulls making support in the range of 31200-31400.