As discussed in last analysisNow if we break 26280 bears can fall further till 25920/25560/25200. Bulls have there chances above 26640 for a move back to 26800/27000. Now Bulls need to move above 26512 for a move back to 26653/26799/26945. Bears will get active below 26361 for a move back to 26215/26070/25900. Today’s High and low are very important for next 300-500 points move in Bank Nifty based on time cycle analysis.
Bank Nifty March Future Open Interest Volume is at 15.3 lakh with addition of 2.1 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @30428 closed below it.
26500 CE is having highest OI @15 Lakh resistance at 26500 followed 26800.25000-27000 CE added 21 Lakh in OI so bears added position in the zone of 26500-27000
26000 PE is having highest OI @5 Lakh, strong support at 26000 followed by 25800.25000-27000 PE added 11 Lakh OI so bulls making support in the range of 25800-26000..