As discussed in last analysisBank 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. Bulls were able to do 1 target on upside and bears below did 1 target on downside.As 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 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
20500 CE is having highest OI @10 Lakh resistance at 20500 followed 21000.19000-22000 CE added 18.4 Lakh in OI so bears added position in the zone of 21000-21500.
19500 PE is having highest OI @12 Lakh, strong support at 19500 followed by 19300.19000-21000 PE added 4 Lakh OI so bulls making support in the range of 19000-19500.