As discussed in last analysis Bulls failed to move above 23150, and bears once below 22900 did 1 target on downside and now waiting for 22555/22350 levels. Bulls need to move above 23000 for a move back to 23150/23310/23500.All Bearish target done on downside,As Mars is going to retrograde today so good move will be seen in bank nifty. Bulls need to move above 22520 for a move back to 22774/22995. Bears will active below 22200 for a move back to 22046/21850.
Bank Nifty Sep Future Open Interest Volume is at 15.1 lakh with addition of 0.48 Lakh, with increase in Cost of Carry suggesting short positions were addded today. Bank nifty Rollover cost @23392 closed below it.
22500 CE is having highest OI @9 Lakh resistance at 22500 followed 23800.22000-23000 CE added 37 Lakh in OI so bears added position in the zone of 22500-22800
22000 PE is having highest OI @3.5 Lakh, strong support at 22300 followed by 22000.23000-25000 PE liquidated 7.7 Lakh OI so bulls making support in the range of 22300-22000.