As discussed in last analysis22000 done above 21800, Till 21800 is held bulls can rally towards 22200/22425. Bears will get active below 21780 for a move back to 21500/21350/21200. 22200 done, Now Bulls need to hold 22150-22180 range for rally to continue towards 22425/22666. Bears will active below 22080 for a move back to 21943/21850.
Bank Nifty Aug Future Open Interest Volume is at 14.9 lakh with addition of 1.49 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @22013 closed below it.
22500 CE is having highest OI @10 Lakh resistance at 22500 followed 22800.21000-23000 CE added 22 Lakh in OI so bears added position in the zone of 22500-22800.
21800 PE is having highest OI @18 Lakh, strong support at 21800 followed by 21500.20000-22000 PE added 24 Lakh OI so bulls making support in the range of 21500-21300.