As Discussed in Last Analysis Till we are below 30830 Solar Eclipse High Bears have slight upper hand.Bulls need to break 30850 for a move back to 31000/31248/31500. Bears below 30610 can push index back to 30525/30410/30250/30000. Bank Nifty Bulls were unable to close above 30830 also unable to break the Gann Angle as shown below, so bears still have upperhand. We have Venus Ingress tommrow so first 15 mins High and low break willd decide the trend for the day. Bulls need to break 30850 for a move back to 31000/31248/31500. Bears below 30610 can push index back to 30525/30410/30250/30000.
Bank Nifty Nov Future Open Interest Volume is at 14.7 lakh with addition of 0.41 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29413 closed above it.
31000 CE is having highest OI @12.8 Lakh resistance at 31000 followed 31300.29000-31000 CE added 12 Lakh in OI so bears added position in the zone of 30500-31000.
30500 PE is having highest OI @22.6 Lakh, strong support at 30500 followed by 30300.29000-31000 PE added 22 Lakh OI so bulls making support in the range of 30200-30300.