As discussed in last analysis Now Bulls need to hold 22009-22020 range for upmove to continue towards 22389/22500/22666. Bears will get active below 21980 for a move back to 21790/21610/21400. Bank Nifty formed an DOJI and NR7 day today suggesting another big move in next 2 trading session. Bulls need to hold 22201-22222 range for the upmove to continue towards 22389/22500/22666.Bears will get active below 22120 for a move back to 22000/21904/21757.
Bank Nifty Aug Future Open Interest Volume is at 12.1 lakh with liquidation of 0.79 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @22013 closed above it.
22500 CE is having highest OI @20Lakh resistance at 22500 followed 22800.21000-23000 CE added 11 Lakh in OI so bears added position in the zone of 22000-22300.
22000 PE is having highest OI @22 Lakh, strong support at 22000 followed by 21800.20000-22000 PE added 24 Lakh OI so bulls making support in the range of 21500-21800.