As discussed in last analysisWe saw the effect of Gann Time Cycle Low made was 17560 and bulls did all target on upside and bounced from gann angle. Now Bulls need to move above 18769 for a move towards 19000/19321. Bears will get active below 18496 for a move back to 18225/17956.All Bullish target done, Bulls need to move above 19200 for a move back to 19450/19600. Bears will get active below 19000 for a move back to 18850/18500.
Bank Nifty May Future Open Interest Volume is at 0.89 lakh with addition of 5 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @18001 closed above it
19500 CE is having highest OI @2 Lakh resistance at 19500 followed 19000.18000-20000 CE added 6 Lakh in OI so bears added position in the zone of 19000-19300.
18500 PE is having highest OI @3 Lakh, strong support at 18500 followed by 18300.18000-19000 PE added 2 Lakh OI so bulls making support in the range of 18300-18500.