As discussed in Last Analysis Now Bulls need to 30110 for a move back to 30265/30400/30591. Bears will get active below 29950 for a move back to 29860/29720/29600. We did low of 30182 above 30110 and did all 3 target on upside.Now Bulls need to hold 30600-30625 range for rally to move above 30976/31329. Bears will get active below 30480 for a move back to 30280/30000.
Bank Nifty Jan Future Open Interest Volume is at 10.1 lakh with liquidation of 0.32 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @30990 closed below it.
31000 CE is having highest OI @8 Lakh resistance at 30800 followed 31000.29000-31000 CE liquidated 14 Lakh in OI so bears covered position in the zone of 30500-31000.
30000 PE is having highest OI @7.1 Lakh, strong support at 30300 followed by 30000.29000-31000 PE added 23 Lakh OI so bulls making support in the range of 30300-30500.