As discussed in Last Analysis Bulls were able to do 1 target on upside and we got the trending move as per expectation. Now we are again at Gann Angle resistance bulls need to move above 31777 for a move back to 32014/32300. Bears will active below 31470 for a move back to 31200/31010/30800. Another gap up open but unable to sustain above 31777,Gann Angle resistance and bear unable to break 31470. As we have weekly expiry tommrow, Bulls were able to close above 31777 waiting for the target of 32014/32300/32423. Bears will active below 31696 for a move back to 31585/31343/31135.
Bank Nifty Jan Future Open Interest Volume is at 17.3 lakh with Liquidation of 0.66 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @31230 closed above it.
32000 CE is having highest OI @22.8 Lakh resistance at 32000 followed 32300.31000-32000 CE added 18 Lakh in OI so bears added position in the zone of 31000-30200.
31300 PE is having highest OI @24.6 Lakh, strong support at 31300 followed by 31100 .29000-31000 PE added 18 Lakh OI so bulls making support in the range of 31000-31200.