As discussed in Last AnalysisHigh 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 Bulls were able to do 32293 still waiting for 32396/32487, Low made was 32017 near our levels of 32041. We should see another big move in bank nifty in next 2 days as per time cycle. Bears have there chance below 31980 for a move back to 31887/31710/31621/31532
Bank Nifty Dec Future Open Interest Volume is at 12.91 lakh with addition of 0.05 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 @7.9 Lakh resistance at 32300 followed 32500.30000-32000 CE liquidated 2.7 Lakh in OI so bears covered position in the zone of 32300-32500.
32000 PE is having highest OI @10 Lakh, strong support at 32000 followed by 31800.30000-32000 PE added 8 Lakh OI so bulls making support in the range of 31800-32000.