As discussed in Last AnalysisAs shown in below chart we have broken a gann angle suggesting if we break 31960 we can see further downside towards 31824/31684. Bulls will get active above 32140 for move back to 32256/32400/32555. High made today was 31914 so we opened below 31960 and crashed towards 31200. Now Bears need to break 31100 for fall to continue till 30960/30820/30600. Bulls have there chance only above 31330 for a move back to 31500/31680.
Bank Nifty Jan Future Open Interest Volume is at 13.7 lakh with addition of 1.2 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @32425 closed below it.
32000 CE is having highest OI @8.1 Lakh resistance at 31500 followed 32000.31000-33000 CE added 27 Lakh in OI so bears added position in the zone of 31500-31800.
31000 PE is having highest OI @6.1 Lakh, strong support at 31000 followed by 30800.30000-31000 PE added 13 Lakh OI so bulls making support in the range of 31000-30800.