As discussed in last analysisAs we are having a confluence of Astro dates suggesting big move will be seen in Bank Nifty in coming 2 days, Bulls need to move above 20260 for a mvoe back to 20490/20720/20940. Bears will get active below 20000 for a move back to 19800/19580/19360.Bank Nifty Bears were unable to push below 20000 as low made was 20030 and once above 20260 did all 3 target on upside,We saw the effect of Astro date.Now Bull need to move above 21030 for a move back to 21170/21400/21640. Bears will get active below 20720 for a move back to 20480/20260/20050.
Bank Nifty May Future Open Interest Volume is at 17.7 lakh with addition of 1.37 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @18001 closed above it
21500 CE is having highest OI @4 Lakh resistance at 21500 followed 22000.19000-22000 CE added 8.4 Lakh in OI so bears added position in the zone of 21000-21500.
20500 PE is having highest OI @2 Lakh, strong support at 20500 followed by 20300.19000-22000 PE added 4 Lakh OI so bulls making support in the range of 20000-20500.