As discussed in last analysis Yesterday Neptune went into Opposition so bears first need to break 22200 for a move towards 22080 Mars Retrograde low,Break of 22080 can see move towards 21950/21771/21500. Bulls will get active above 22700 for a move back to 22914/23150/23300. Bank Nifty Bulls got whipsawed and bears once below 22200 did 22080,Now Bears need to break 22080 Mars Retrograde low for move towards 21850/21576/21350. Bulls will get active above 22400 for a move back to 22553/22750/23000.
Bank Nifty Sep Future Open Interest Volume is at 17.6 lakh with addition of 2.6 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @23392 closed below it.
23000 CE is having highest OI @10 Lakh resistance at 23000 followed 23500.22000-23000 CE added 20 Lakh in OI so bears added position in the zone of 22500-22800
22000 PE is having highest OI @8 Lakh, strong support at 22000 followed by 21700.21000-24000 PE added 15 Lakh OI so bulls making support in the range of 22200-22000.
