As discussed in last analysisBulls now need to hold range of 21150-21220 for the upmove towards 21500/21666/21900. Bears need to get below 21000 for a move back to 20750/20500.Price are back to gann angle resistance and with Solar Eclipse be prepared for volatile move in coming week. We opened with gap up and did all target on upside, We are near an important gann angle resistance as shown in below chart, Bulls need a close above 21970 for a move back to 22201/22500. Bears will get active below 21600 for a move back to 21320/21025.
Bank Nifty May Future Open Interest Volume is at 17.3 lakh with liquidation of 0.83 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @18001 closed above it
22000 CE is having highest OI @14 Lakh resistance at 22000 followed 22500.20000-23000 CE added 8.4 Lakh in OI so bears added position in the zone of 22000-22500.
21000 PE is having highest OI @12 Lakh, strong support at 21000 followed by 21500.20000-22000 PE added 4 Lakh OI so bulls making support in the range of 21000-21500.
