As discussed in last analysis Now Bulls need to hold 23043-23020 range for upmove to continue towards 23350/23551. Bears will get active below 22900 for a move back to 22751/22584. Low made was 23093 so bulls held on to 23043 range and rallied to do another target on upside. Now Bulls need to hold range of 23367-23380 range for upmove to continue towards 23547/23680/23800.Bears will get active below 23250 for a move back to 23040/22850.
Bank Nifty Sep Future Open Interest Volume is at 9.5 lakh with addition of 2.5 Lakh, with dincrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @22013 closed above it.
23500 CE is having highest OI @12 akh resistance at 23500 followed 23700.21000-23000 CE added 12 Lakh in OI so bears covered position in the zone of 22000-22300.
23000 PE is having highest OI @21 Lakh, strong support at 23200 followed by 23000.20000-23000 PE added 28 Lakh OI so bulls making support in the range of 23000-23100.