As Discussed in Last AnalysisWe have seen excellent move from gann angle support, We have formed a DOJI candel today at gann angle resistance. Bulls need a close above 35040 for a move back to 35260/35555/35840. Bears will get active below 34729 for a move back to 34575/34210/33960. Bank Nifty opened with gap up and failed to sustain above 35040 and bears were able to break 34729 and did 1 target on downside. Levels given on Twitter worked perfectly. We have Total Lunar Eclipse suggesting another big move will be seen in next 2 trading sessions. Bulls need a close above 34729 for a move back to 34888/35055/35400. Bears will get active below 34610 for a move back to 34000/34180/34020
Bank Nifty April Future Open Interest Volume is at 13.3 lakh with liquidation of 1.3 Lakh, with increase in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @33146 closed above it.
35000 CE is having highest OI @17.8 Lakh resistance at 35000 followed 35300.34000-35000 CE added 12.6 Lakh in OI so bears added position in the zone of 34500-35000.
34000 PE is having highest OI @11.2 Lakh, strong support at 34000 followed by 34500 .34000-35000 PE added 6 Lakh OI so bulls making support in the range of 34000-34500.