As discussed in Last Analysis.Now Bears need a move below 31250 for move towards 31100/30850. Bulls have chance only above 31500 for a move back to 31750/31900. We formed a perfect DOJI on time cycle date suggesting break of todays high or low we can see at least 250-300 points move in Bank Nifty, Bulls need to move above 31550 for a move back to 31750/31940. Bears will get active below 31100 for a move back to 30900/30700
Intraday time for reversal can be at 9:33/10:45/11:02/12:53/2:05
Bank Nifty Dec Future Open Interest Volume is at 13.5 lakh with liquidation of 1.3 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @31829 closed below it.
32000 CE is having highest OI @5 Lakh resistance at 32000 followed 32200.30000-32000 CE added 13 Lakh in OI so bears added position in the zone of 31800-32000.
31000 PE is having highest OI @48 Lakh, strong support at 31000 followed by 30800.30000-32000 PE liquidated 1 Lakh OI so bulls making support in the range of 31200-31000.
