As discussed in last analysisBank Nifty broke the Mercury Elongation low of 22 July 22658 and as discussed we got the 500-800 points move low made was 22801, so Astro Rocked again. Now Bulls need to move above 22110 for a move back to 22340 and 22570. Bears will get active below 21800 for a move back to 21400/21100/20940. Bears got whipsawed below 21800 and bulls unable to close above 22110. As we are near gann angle support Bulls need to move above 22150 for a move back to 22340 and 22570. Bears will get active below 21920 for a move back to 21750/21400/21100/20940.
Bank Nifty Aug Future Open Interest Volume is at 4.6 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting lomg positions were added today. Bank nifty Rollover cost @21720 closed above it.
23000 CE is having highest OI @16 Lakh resistance at 22500 followed 23000.21000-23000 CE added 14 Lakh in OI so bears added position in the zone of 21500-22000.
21500 PE is having highest OI @22 Lakh, strong support at 21500 followed by 21000.21000-23000 PE added 22 Lakh OI so bulls making support in the range of 21800-22000.