As discussed in Last AnalysisFresh shorts should be taken below 30631 for a move towards 30376/30121/29867. Bulls will get active above 30820 for a move back to 30910/31130/31250. Today High and Low break can see a move of 300-500 points in Bank Nifty. Once 30631 was broken Bank Nifty did 400 points on downside. Till we are below 30631 Bears can move towards 30376/30121/29867. Bulls will get active above 30700 for a move back to 30910/31130/31250.
Bank Nifty Jan Future Open Interest Volume is at 11.1 lakh with liquidation of 0.19 Lakh, with Decrease in Cost of Carry suggesting short positions were CLOSED today. Bank nifty Rollover cost @30990 closed below it.
31500 CE is having highest OI @3.9 Lakh resistance at 31300 followed 31500.30000-32000 CE added 16 Lakh in OI so bears added position in the zone of 31300-31500.
30000 PE is having highest OI @3.2Lakh, strong support at 30500 followed by 30300.30000-32000 PE liquidated 1 Lakh OI so bulls making support in the range of 30300-30500.