As discussed in last analysisAnother gap up open by Bank Nifty no levels got triggered,Bulls will get active above 22800 for a move back to 23040/23280,Bears will get active below 22570 for a move back to 22340/22110. We are nearing gann angle resistance and last swing high time to be cautious during this phase of optimism. Another gap up open but we sold off from gann angle resistance.Today Mercury goes in Elogation suggesting another big move is coming in Bank Nifty in next 2 days. Bulls need to move above 23040 for a move back to 23280/23530/23780. Bears will get active below 22800 for a move back to 22570/22340.
Bank Nifty July Future Open Interest Volume is at 16.3 lakh with addition of 8.8 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @21720 closed above it.
23000 CE is having highest OI @16 Lakh resistance at 23000 followed 23300.21000-23000 CE added 14 Lakh in OI so bears added position in the zone of 21500-22000.
22500 PE is having highest OI @20 Lakh, strong support at 22500 followed by 22300.21000-23000 PE added 24 Lakh OI so bulls making support in the range of 21800-22000.