As discussed in Last AnalysisNow Tomorrow being Weekly closing Bears will like to close below 30900. Now Bears need to break 30900 for down move to continue towards 30750/30500. Bulls will get active above 31150 for a move back to 31300/31470. Bears got whipsawed below 30900 and Bulls once above 31150 did 31300 on Upside. We are seeing Mercury Speed Change on 26 So we can see good move on Monday also we are near gann angle resistance as seen in below chart. Bears below 31120 can see fall back to 30955/30666. Bulls above 31320 can rally back to 31500/31680.
Bank Nifty Jan Future Open Interest Volume is at 13 lakh with liquidation of 0.54 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @32425 closed below it.
31500 CE is having highest OI @7.4 Lakh resistance at 31500 followed 31800.31000-33000 CE added 8.1 Lakh in OI so bears added position in the zone of 31500-31800.
31000 PE is having highest OI @7 Lakh, strong support at 31000 followed by 30800.31000-32000 PE added 16.6 Lakh OI so bulls making support in the range of 31000-30800.