As discussed in Last AnalysisLow made was 35002 so bears were unable to break below 01 March low and bulls unable to close above 35584. Based on time cycle and price struggling near gann angle we should see big move in bank nifty in next 2 trading sessions. Bulls need to move above 35471 for a move towards 35659/35884/36100.Bears need to break 35275 for a move towards 35088/34800/34666/34444. We got a gap up open and all target done on upside and we got the big move as per expecation based on Gann Analysis. As we have weekly expiry tommrow expect volatile move in bank nifty.Bulls need to move above 36460 for a move towards 36555,36680 and 36788.Bears need to break 36130 for a move towards 36020/35810/35666.Tommrow is Important Anniversary Date of Bank Nifty.
Bank Nifty March Future Open Interest Volume is at 15 lakh with liqudiation of 0.89 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @35984 closed below it.
36500 CE is having highest OI @14.3 Lakh resistance at 36500 followed 36800.36000-38000 CE added 7.9 Lakh in OI so bears added position in the zone of 36500-36800.
36000 PE is having highest OI @12.5 Lakh, strong support at 36000 followed by 35700 .35500-36000 PE added 34 Lakh OI so bulls making support in the range of 36000-36100.