As discussed in last analysis Now bull need to close above 20050 for a move back to 20260/20490/20720. Bears will get active below 19680 for a move back to 19500/19360/19140.We have seen the impact of a bearish aspect as discussed in below video. Bank Nifty opened with Huge Gap up and levels we gave on Twitter did all target on downside. Now Bank Nifty Bulls need to move above 20343 for a move towards 20449/20700. Bears will get active below 20150 for a move back to 20040/19881/19600. Days Like this make a short term top or Bottom in Market. Last time we fall on Surgical Strike 2 and made short term bottom on 27 Feb 2019
Bank Nifty May Future Open Interest Volume is at 16.3 lakh with liquidation of 1.6 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @18001 closed above it
21000 CE is having highest OI @10 Lakh resistance at 20500 followed 21000.19000-22000 CE added 8.4 Lakh in OI so bears added position in the zone of 21000-21500.
19000 PE is having highest OI @12 Lakh, strong support at 19500 followed by 19000.19000-21000 PE added 14 Lakh OI so bulls making support in the range of 19000-19500.