As discussed in last analysis 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. Low made was 21647 so bears unable to break 21600 and once above 21970 did 22201. Now Bulls need to close above 22330 for a move back to 22640/22870/23110. Bears will get active below 21940 for a move back to 21720/21490.We are near Important gann angle resistance as shown in below chart.
Bank Nifty July Future Open Interest Volume is at 5.3 lakh with addition of 2.6 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @18001 closed above it
23000 CE is having highest OI @14 Lakh resistance at 23000 followed 23300.20000-23000 CE added 8.4 Lakh in OI so bears added position in the zone of 22500-23000.
21500 PE is having highest OI @12 Lakh, strong support at 21500 followed by 21000.20000-23000 PE added 14 Lakh OI so bulls making support in the range of 21000-21500.