As discussed in last analysis 20 April is an important astro date,Bulls need to move above 20736 for a move back to 21000/21150/21316.Bears need a close below 20280 for a move back to 20000/19881/19600. We have sun ingress today and break of today high and low can easily give 500-700 points in bank nifty. Bulls need to move above 20700 for a move back to 21000/21150/21316.Bears need a close below 20400 for a move back to 20250/20000/19881/19683.
Bank Nifty April Future Open Interest Volume is at 11.3 lakh with addition of 0.24 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @17939 closed above it
22000 CE is having highest OI @7 Lakh resistance at 21500 followed 22000.20000-22000 CE added 9 Lakh in OI so bears added position in the zone of 21500-22000.
19500 PE is having highest OI @8 Lakh, strong support at 19500 followed by 19000.17000-19000 PE added 20 Lakh OI so bulls making support in the range of 19000-19500.