As discussed in Last Analysis We saw the effect of Sun Trine Uranus as we broke 32150 we did low of 31963 near our target of 31968 Now waiting for the target of 31887/31710/31621/31532. Bulls will have chance only above 32100 for a move back to 32220/32444. Having a Plan B always help in trading Bank Nifty opened with gap up and once above 32100 bulls were on rampage and did 32444 doing exactly our 2 target. Now Once we are above 32450 we can continue rally towards 32768/32900/33124. Bears will get active below 32300 for a move back to 32170/32041.
Bank Nifty Jan Future Open Interest Volume is at 15.2 lakh with addition of 2.9 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @32425 closed above it.
32500 CE is having highest OI @5.5 Lakh resistance at 32500 followed 32700.31000-33000 CE added 7.5 Lakh in OI so bears added position in the zone of 32500-32700.
32000 PE is having highest OI @7.8 Lakh, strong support at 32000 followed by 32200.31000-32500 PE added 24 Lakh OI so bulls making support in the range of 31800-32000.