As discussed in last analysis Now bulls need to move above 22953 for a move back to 23104/23257/23409.Bears will get active below 23710 for a move back to 22500/22351.Low made was 22857 so bulls once above 22953 did 23104, Now Bulls need to hold 23043-23020 range for upmove to continue towards 23350/23551. Bears will get active below 22900 for a move back to 22751/22584.
Bank Nifty Aug Future Open Interest Volume is at 10.2 lakh with liquidation of 2.3 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @22013 closed above it.
23500 CE is having highest OI @10 akh resistance at 23300 followed 23500.21000-23000 CE added 2 Lakh in OI so bears covered position in the zone of 22000-22300.
22500 PE is having highest OI @11 Lakh, strong support at 22800 followed by 22500.20000-23000 PE added18 Lakh OI so bulls making support in the range of 22300-22000.