As discussed in last analysisAs per time cycle as discussed in below video bank nifty should see a trending move in next 2 days.Bank Nifty bulls need to move 17585 for a move towards 17783/18000/18200. Bears will get active below 17500 for a move towards 17200/17031/16900. Astro cycle worked again and we got the big move as per our expectation and bulls did 18000 above 17585. As we have weekly expiry tommrow Bulls need to move above 17956 for a move towards 18100/18225. Bears need a close below 17700 for a move back to 17500/17300.
Bank Nifty May Future Open Interest Volume is at 12.6 lakh with liquidation of 1 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @20762 closed below it
18000 CE is having highest OI @3.6 Lakh resistance at 18000 followed 18500.18000-20000 CE added 18 Lakh in OI so bears added position in the zone of 18000-18500.
17500 PE is having highest OI @4.2 Lakh, strong support at 17500 followed by 17300.17000-20000 PE added 14 Lakh OI so bulls making support in the range of 17500-17300.