As discussed in Last AnalysisBank NIfty has broken the low of Mercury Ingress and now we are waiting for target of 32050/31900.Bulls will get active above 32400 for a move back to 32555/32768.Low made was 32057 so we did the 1 target of 32050 below Mercury Ingress Low,As we have weekly Expiry tomorrow and any break of 32050 can see fall towards our 2 target of 31900. Bulls will get active above 32200 for a move back to 32350/32555/32768.
Bank Nifty Jan Future Open Interest Volume is at 12.9 lakh with liquidation of 0.05 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @32425 closed below it.
32500 CE is having highest OI @11 Lakh resistance at 32300 followed 32500.31000-33000 CE added 20 Lakh in OI so bears added position in the zone of 32500-32700.
32000 PE is having highest OI @10 Lakh, strong support at 32000 followed by 32200.31000-32500 PE liquidated 2 Lakh OI so bulls making support in the range of 31800-32000.