As discussed in last analysis Now Bulls need to close above 22265 for a move back to 22555/22760/23000. Bears will get active below 21773 for a move back to 21500/21225/21000. Low made was 21890 and bears unable to break 21773 and bulls above 22265 got stopped out. We are near gann angle resistance suggesting good move should be seen, and also we have confluence of time cycle date on 04-05 Jul suggesting possible price time squaring.Now Bulls need to close above 22110 for a move back to 22340/22570/22800. Bears will get active below 21870 for a move back to 21640/21400/21170.
Bank Nifty July Future Open Interest Volume is at 13.3 lakh with liquidation of 0.14 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @21720 closed above it.
23000 CE is having highest OI @3 Lakh resistance at 22500 followed 23000.20000-23000 CE added 2.4 Lakh in OI so bears added position in the zone of 21500-22000.
21500 PE is having highest OI @5 Lakh, strong support at 21500 followed by 21000.20000-23000 PE added 2.2 Lakh OI so bulls making support in the range of 21000-21500.