As discussed in last analysis Now Bulls need to hold 22500-22550 range for the upmove to continue towards 22800/23040. Bears will get active below 22340 for a move back to 22110/21870.23040 done and reacted from that but bulls held on to range of 22500 as we discussed. Now Bulls need to move above 22666 for a move back to 22800/23000. Bears will get active below 22500 for a move back to 22340/22110/21870.
Bank Nifty July Future Open Interest Volume is at 14.6 lakh with addition of 0.94 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @21720 closed above it.
23000 CE is having highest OI @10 Lakh resistance at 23000 followed 23500.21000-23000 CE added 24 Lakh in OI so bears added position in the zone of 22500-23000.
22000 PE is having highest OI @18 Lakh, strong support at 22300 followed by 22000.20000-23000 PE added 14 Lakh OI so bulls making support in the range of 21800-22000.