As discussed in Last AnalysisBulls need to break of 32347 will see move on upside towards 32500/32666/32768. Bears will get active below 32040 for a move back to 31821/31650/31525. Bank Nifty bears had upper hand below 32040 and did 31670 almost near our target of 31650. Now till we are below 31900 bears can continue to fall towards 31663/31500/31350. Bulls will become active above 32000 for a move back to 32150/32300.
Bank Nifty Jan Future Open Interest Volume is at 12.6 lakh with liquidation of 0.16 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @32425 closed below it.
32000 CE is having highest OI @8.7 Lakh resistance at 32000 followed 32100.31000-33000 CE added 50 Lakh in OI so bears added position in the zone of 32000-32100.
31500 PE is having highest OI @6.4 Lakh, strong support at 31500 followed by 31300.30000-32000 PE liquidated 5 Lakh OI so bulls making support in the range of 31300-31500.