As discussed in Last AnalysisNow Bears need to break 31000-30976 range for further downside towards 30816/30672/30528. Bulls will get active only above 31350 for a move back to 31500/31650. Bank Nifty bears were able to close below 30976 now waiting for downside target of 30816/30672/30528. Bulls will get active only above 31200 for a move back to 31350/31500/31650.
Bank Nifty Jan Future Open Interest Volume is at 14.4 lakh with addition of 0.34 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @32425 closed below it.
31500 CE is having highest OI @10 Lakh resistance at 31500 followed 31800.31000-33000 CE added 17 Lakh in OI so bears added position in the zone of 31500-31800.
31000 PE is having highest OI @8 Lakh, strong support at 31000 followed by 30700.30000-32000 PE added 3 Lakh OI so bulls making support in the range of 30800-31000.