As Discussed in Last Analysis We are at a crucial point with price at gann angle and time denoted by Blue line from time cycle starting from 16 Feb Bank Nifty all time high so once we move above 34800 bulls will have upper hand and we can see reversal in price. Any break below 34584 bears will get mometum in there side. Bulls need to move above 34800 for a rally towards 34910/35016/35225/35390. Bears will get active below 34580 for a move towards 34484/34333/34150. Low made was 34632 so bears unable to break 34584 and bulls above 34800 did 1 target on upside and we saw price holding support of gann angle based on gann price time squraring. Now Bulls were able to close above 34800 waiting for the target of 34910/35016/35225/35390, Bears will get active below 34610 for a move back to 34517/34401/34332
Bank Nifty July Future Open Interest Volume is at 20.8 lakh with liquiation of 0.29 Lakh, with decrease in Cost of Carry suggesting SHORT positions were closed today. Bank nifty Rollover cost @34909 and Rollover 81.1% closed above it.
35000 CE is having highest OI @11.3 Lakh resistance at 35000 followed 35500. 35000-36000 CE added 14.6 Lakh in OI so bears added position in the zone of 36000-36500.
34500 PE is having highest OI @8.2 Lakh, strong support at 34500 followed by 34000 .34000-35000 PE added 22 Lakh OI so bulls making support in the range of 34000-34500.