As Discussed in Last Analysis Now Bulls need to hold range of 21500-21540 range for the rally to continue till 21900/22130/22300. Bears will get active below 21470 for a move back to 21250/21000/20580. Bears were able to close below 21470 and now waiting for 21280/21031/20900. Below 21280 we can see fast fall towards 21031/20900. Bulls will get active above 21555 for move towards 21721/21900
Bank Nifty Oct Future Open Interest Volume is at 15.6 lakh with addition of 0.33 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @21225 closed above it.
22000 CE is having highest OI @11 Lakh resistance at 22000 followed 22300.21000-23000 CE added 12 Lakh in OI so bears added position in the zone of 21500-21800
21500 PE is having highest OI @10 Lakh, strong support at 21500 followed by 21000.20000-22000 PE added 5 Lakh OI so bulls making support in the range of 21000-21200.