As discussed in Last Analysis Now Bulls need to hold 31800 for rally to continue towards 32150/32350. Bears will get active below 31750 for a move back to 31500/31324, Low made was 31628 so bears waiting for the target of 31500/31324. Bulls will get active above 31820 for a move back to 31978/32067.As per time cycle we should see a good move in next 2 trading sessions.
Bank Nifty Dec Future Open Interest Volume is at 16.2 lakh with liquidation of 0.75 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @31829 closed below it.
32000 CE is having highest OI @3.7 Lakh resistance at 32000 followed 32200.30000-32000 CE added 13 Lakh in OI so bears added position in the zone of 32000-32300.
31500 PE is having highest OI @2.8 Lakh, strong support at 31500 followed by 31300.30000-32000 PE added 10 Lakh OI so bulls making support in the range of 31200-31400.