As discussed in Last Analysis32041 done now bank nifty bulls need to hold 31900 for the upmove to continue towards 32250/32400. Bears have there chance below 31900 for a move back to 31721/31500. 31770 almost near our target of 30721. Now Bears need to break 31770 for the down move to continue till 31500/31300. Bulls have there chance only above 32000 for a move back to 32250/32500.We have VENUS Aphelion Happening today suggesting trend change in market can be seen below 31770.
Bank Nifty Dec Future Open Interest Volume is at 16.9 lakh with liquidation of 1.6 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @31829 closed above it.
32500 CE is having highest OI @4.3 Lakh resistance at 32300 followed 32500.30000-32000 CE added 12 Lakh in OI so bears added position in the zone of 32300-32500.
31500 PE is having highest OI @5.2 Lakh, strong support at 31800 followed by 31600.30000-32000 PE added 10 Lakh OI so bulls making support in the range of 31200-31400.