As discussed in Last AnalysisNow Bulls need to move above 31770 for a move back to 31947/32036/32216. Bears will get active below 31500 for a move back to 31324/31148. Bears got whipsawed below 31500 and bulls above 31770 did 2 target on upside as we bounced from gann angle support. 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
Bank Nifty Dec Future Open Interest Volume is at 17 lakh with addition of 0.86 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @31829 closed below it.
32000 CE is having highest OI @6 Lakh resistance at 32300 followed 32500.30000-32000 CE liquidated 9.1 Lakh in OI so bears covered position in the zone of 32000-32300.
31500 PE is having highest OI @9.2 Lakh, strong support at 31500 followed by 31300.30000-32000 PE added 15 Lakh OI so bulls making support in the range of 31200-31400.