As discussed in last analysisAs we are near gann angle support Bulls need to move above 19044 for a move back to 19321/19600. Bears will get active below 18769 for a move back to 18496/18225. All Bearish target done below 18769,17576 is very important gann number which should be watched closely. Bulls can rally towards 17689/17956/18225. Bears will get active below 17500 for a move towards 17200/16900.
Bank Nifty May Future Open Interest Volume is at 14 lakh with addition of 0.90 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @20762 closed below it
18000 CE is having highest OI @4 Lakh resistance at 18000 followed 18500.18000-20000 CE added 18 Lakh in OI so bears added position in the zone of 20000-20500.
17500 PE is having highest OI @1.4 Lakh, strong support at 17500 followed by 17000.17000-20000 PE liquidated 1.4 Lakh OI so bulls making support in the range of 17500-17300.