As discussed in Last AnalysisHigh 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. We opened with a gap up above our levels and we were able to capture the whole downside move as per update given on Twitter. We have formed an Inside Bar Candle today on Gann Turn date, Bulls need to move above 31555 for a move back towards 31700/31851. Bears will get active below 31288 for a move back to 31116/31000.
Bank Nifty Jan Future Open Interest Volume is at 14.3 lakh with addition of 0.66Lakh, 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 @10 Lakh resistance at 31500 followed 32000.31000-33000 CE added 10 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 30800.30000-31000 PE added 10 Lakh OI so bulls making support in the range of 31000-30800.