As discussed in Last AnalysisAs per time cycle we should see big move in Bank Nifty. Bulls need to move above 31343 for rally to continue towards 31484/31600/31741. Bears will get active below 31080 for a move back to 30970/30828/30721. High made was 31248 so bulls unable to move above 31343 and bears below 31080 did 1 target on downside and now waiting for 30828/30721. As today was important Astro date as explained in below video,Bulls need to move above 31250 for a move back to 31380/31500.
Bank Nifty Jan Future Open Interest Volume is at 11.1 lakh with liquidation of 0.44 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @30990 closed above it.
31500 CE is having highest OI @6.3 Lakh resistance at 31500 followed 31800.30000-32000 CE added 13 Lakh in OI so bears added position in the zone of 31500-31800.
31000 PE is having highest OI @5.3 Lakh, strong support at 31000 followed by 30800.30000-32000 PE added 4.8 Lakh OI so bulls making support in the range of 31000-30800.