As discussed in last analysis As yesterday was an important Astro date with Venus moving to Gemini which is considered as Barren Sign which generally leads to negative price,so break of High and Low of 25 will decide the next 600-800 points move in Bank Nifty. Bulls need to break 21720 for a move back to 21870/22100. Bears will get active below 21400 for a move back to 21170/20940/20720.It was a day of whipsaw both bulls and bears got chopped on both side. Plan remains the same,Bank Nifty. Bulls need to break 21720 for a move back to 21870/22100. Bears will get active below 21400 for a move back to 21170/20940/20720
Bank Nifty July Future Open Interest Volume is at 11.1 lakh with liquidation of 0.8 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @21720 closed below it.
22000 CE is having highest OI @6 Lakh resistance at 21800 followed 22000.20000-23000 CE added 8.4 Lakh in OI so bears added position in the zone of 21500-22000.
21000 PE is having highest OI @2 Lakh, strong support at 21000 followed by 20500.20000-23000 PE added 4 Lakh OI so bulls making support in the range of 21000-21500.