- As Discussed in Last Analysis Bulls need to go above 29770 for a move back to 29855/29941/30028/30115. Bears will get active below 29650 for a move back to 29561/29475/29389, Bulls were able to do 1 target on upside and Bears below 29650 did 2 target on downside also Intraday Levels mentioned on twitter did the target. Bears waiting for further target of 29389/29278/29156 below 29455. Bulls will get active above 29770 for a move back to 29855/29941/30028/30115. Build Good Trading Habits
- Bank Nifty May Future Open Interest Volume is at 8.7 lakh with addition of 4.3 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29967 closed below it.
- 30000 CE is having highest OI @30 Lakh resistance at 29800 followed 29600. 29000-31000 CE added huge 15 Lakh in OI so bears added in the zone of 30000-29800.
- 29500 PE is having highest OI @7.1 Lakh, strong support at 29500 followed by 29300.29000-31000 PE added 1.6 Lakh OI so bulls making strong support in the range of 29200-29300.
Buy above 29525 Tgt 29610,29700 and 29800 (Bank Nifty Spot Levels)
Sell below 29450 Tgt 29360,29278 and 29156 (Bank Nifty Spot Levels)