As discussed in Last Analysis 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 Bulls were able to 30910 above 30700,Now Bulls need to move above 30950 for upmove towards 31125/31299/31474. Bears will get active below 30770 for a move back to 30601/30426.
Bank Nifty Jan Future Open Interest Volume is at 10.6 lakh with liquidation of 0.47 Lakh, with Decrease in Cost of Carry suggesting short positions were CLOSED today. Bank nifty Rollover cost @30990 closed below it.
31000 CE is having highest OI @9.9 Lakh resistance at 31000 followed 31200.30000-32000 CE liquidated 4 Lakh in OI so bears covered position in the zone of 31000-31300.
30500 PE is having highest OI @7.9 Lakh, strong support at 30500 followed by 30300.30000-32000 PE added 16 Lakh OI so bulls making support in the range of 30300-30500.