As discussed in Last AnalysisBank Nifty Bulls and Bears both got whipsawed today, As per time cycle big move should be seen in next 2 days.Bulls need a close above 32041 for a move towards 32217/32396/32487. Bears have there chance below 31900 for a move back to 31710/31621/31532. High made was 32213 so bulls were able to do 1 target above 32041, waiting for 32396/32487 till we are holding 32041.Bears have there chance below 31980 for a move back to 31887/31710/31621/31532.
Bank Nifty Dec Future Open Interest Volume is at 12.8 lakh with liquidation of 0.16 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @31829 closed above it.
32500 CE is having highest OI @7.1 Lakh resistance at 32300 followed 32500.30000-32000 CE added 1.3 Lakh in OI so bears added position in the zone of 32300-32500.
32000 PE is having highest OI @7.2 Lakh, strong support at 32000 followed by 31800.30000-32000 PE added 12 Lakh OI so bulls making support in the range of 31800-32000.