As discussed in Last AnalysisTill we are below 31000 bears can push towards 30666/30540/30300. Bulls have chance above 31050 for a move back to 31225/31400. Another close below 31000 waiting for the target of 30666/30540/30300. Bulls have chance above 31050 for a move back to 31225/31400.Today was an Important Gann Date break of high and low of today can easily give 200-300 points.
Bank Nifty Jan Future Open Interest Volume is at 12.3 lakh with liquidation of 0.91 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @32425 closed below it.
31000 CE is having highest OI @9.8 Lakh resistance at 31000 followed 31300.31000-33000 CE added 10 Lakh in OI so bears added position in the zone of 31000-31300.
30500 PE is having highest OI @7.2 Lakh, strong support at 30500 followed by 30300.30500-32000 PE added 4 Lakh OI so bulls making support in the range of 30500-30300.