As discussed in Last AnalysisAs on 10 Jan we have Sun Conjunct Mercury so break of 32347 will see move on upside towards 32500/32666/32768. Bears will get active below 31950 for a move back to 31650/31525. Bank Nifty has formed an Inside bar candle also as per time analysis big move round the corner. Bulls need to break of 32347 will see move on upside towards 32500/32666/32768. Bears will get active below 32040 for a move back to 31821/31650/31525.
Bank Nifty Jan Future Open Interest Volume is at 13.1 lakh with liquidation of 0.83 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @32425 closed below it.
32500 CE is having highest OI @5Lakh resistance at 32300 followed 32500.31000-33000 CE added 10.7 Lakh in OI so bears added position in the zone of 32300-32500.
31500 PE is having highest OI @6 Lakh, strong support at 31500 followed by 31300.30000-32000 PE added 12 Lakh OI so bulls making support in the range of 31300-31500.