Nifty 11913 (+5) BankNifty 31116(+367)
Nifty futures open Interest declined by -3% indicating wind-up of short positions. Nifty(spot) bounced from its near by support of 11850, trend would stay with positive as long as it holds above 11850.
OI in BankNifty went up by another +12% indicating heavy long positions had been created in the past four sessions. BankNifty(spot) current trend would continue to stay bullish as long as its support of 30500 holds, next resistance would be 31350-31450 range.
Nifty futures open Interest declined by -3% indicating wind-up of short positions. Nifty(spot) bounced from its near by support of 11850, trend would stay with positive as long as it holds above 11850.
OI in BankNifty went up by another +12% indicating heavy long positions had been created in the past four sessions. BankNifty(spot) current trend would continue to stay bullish as long as its support of 30500 holds, next resistance would be 31350-31450 range.