As discussed in last analysisWe have important astro date today so break of today high and low will decide the next 500-600 points move in bank nifty.Bulls now need to move above 21151 for a move back to 21316/21608/21900. Bears need to break 20960 for a move back to 20750/20450/20225.Bank Nifty Bulls got whipsawed and Bears did 2 target towards 20450 so Astro was able to give another trade. Mostly 3 target will be done tommrow. We have important Bearish Aspect forming tommrow between Mars and Neptune so another good move should be seen. Bears need to break 20164 for a move back towards 19881/19600. Bulls will get active above 20449 for a move back to 20736/21025.
Bank Nifty May Future Open Interest Volume is at 16 lakh with liquidation of 1 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @18001 closed above it
21000 CE is having highest OI @4 Lakh resistance at 21000 followed 21300.19000-22000 CE added 6 Lakh in OI so bears added position in the zone of 21000-21500.
20000 PE is having highest OI @6 Lakh, strong support at 20000 followed by 19800.19000-21000 PE added 4 Lakh OI so bulls making support in the range of 20300-20500.