As discussed in Last AnalysisWe opened with gap down and took support near gann angle and we will open gap up tommrow. Bulls need to move above 31555 for a move back towards 31700/31851. Bears will get active below 31288 for a move back to 31116/31000. Bank Nifty opened with gap up again and above our levels, We have given levels on Twitter after market open and we were able to achieve 2 targets. Trading is about embracing on Uncertainty and never be biased which come with “LOT” of practices. If Traders goes in your favor get the max out of it and if it goes against us get out immediately and wait for next opportunity. We have important Astro date tomorrow which will decide the next trend in market.Bulls need to move above 32200 for a move back towards 32400/32610/32768. Bears will get active below 31900 for a move back to 31680/31500.
Bank Nifty Jan Future Open Interest Volume is at 15.6 lakh with liquidation of 0.94 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @32425 closed below it.
32500 CE is having highest OI @2.5 Lakh resistance at 32300 followed 32500.31000-33000 CE added 8 Lakh in OI so bears added position in the zone of 32300-32500.
31500 PE is having highest OI @3 Lakh, strong support at 31500 followed by 31300.30000-32000 PE added 9 Lakh OI so bulls making support in the range of 31300-31500.