As Discussed in Last Analysis Now Bulls need to move above 30800 for a move back to 31040/31300/31510. Bears below 30555 can fall till 30421/30150/29950. Bank Nifty bounced from gann angle support as shown in below chart,Now Bulls need to break 30610 for a move back to 30823/31000. Bears below 30400 can push index back to 30250/30030/29890.
Bank Nifty Nov Future Open Interest Volume is at 15.9 lakh with liquidation of 1.34 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29413 closed above it.
31000 CE is having highest OI @4.8 Lakh resistance at 31000 followed 31300.29000-31000 CE added 10 Lakh in OI so bears added position in the zone of 30500-31000.
30200 PE is having highest OI @8.6 Lakh, strong support at 30200 followed by 30000.29000-31000 PE added 9 Lakh OI so bulls making support in the range of 30200-30300.