As Discussed in Last AnalysisNow as discussed in below Video Important time and price cycle are coming,Bulls need to break 24460 for a move back to 24610/24839/25000. Bears will get active below 24200 for a move back to 24050/23883/23666. Bulls were able to do 1 target on upside and hit the gann angle resistance. If we close above 24900 on Weekly basis we are heading towards 25921 levels. Bulls need a close above 24649 for a move back to 24850/24964/25281 levels. Bears will get active below 24500 for amove back to 24336/24215/24050.
Bank Nifty Oct Future Open Interest Volume is at 14.9 lakh with liquidation of 0.11 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @21225 closed above it.
25000 CE is having highest OI @14 Lakh resistance at 24800 followed 25000.23000-25000 CE added 12 Lakh in OI so bears added position in the zone of 24500-25000
24300 PE is having highest OI @15 Lakh, strong support at 24300 followed by 24000.23000-25000 PE added 15 Lakh OI so bulls making support in the range of 24000-24200.