As Discussed in Last Analysis Bulls need to move above 21100 for a move back to 21220/21459/21666/21854. Bears will get active below 20743 for a move back to 20587/20200/19953. Low made was 21055 so bulls were able to enter above 21110 and did 3 target on upside. 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.
Bank Nifty Oct Future Open Interest Volume is at 15.3 lakh with addition of 0.02 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @21225 closed above it.
22000 CE is having highest OI @10.5 Lakh resistance at 22000 followed 22300.21000-23000 CE added 2 Lakh in OI so bears added position in the zone of 21500-21800
201000 PE is having highest OI @10 Lakh, strong support at 21300 followed by 21000.20000-22000 PE added 15 Lakh OI so bulls making support in the range of 21000-21200.