Nifty Reversed from its 10DMA And managed to close above 10DMA.
Significant Open Interest was observed at 10800 Puts and 10600 Puts .
Significant Positions were winded at 10700 Calls.
Huge Open interest stands at 10800 and 10850 Calls.
Range would be between 10650-10830
Bank Nifty Respected 20DMA and managed to close significant above 20DMA.
Bank nifty got kicker from From Fiscal Deficit target management by government and Strong Rupee.
Significant Open Interest at 30000 calls were covered and High Open Interest Stands at 30500 Calls 30300 could act as Resistance.
29800 and 29500 would act as support for Bank nifty and significant 29800 puts were added at 29800 puts and 30000 puts
Kotak Mahindra Bank could breakout above 1370 only and faces strong resistance at 1360-1365,Volumes need to confirm before entering.
Lupin is at very important juncture near its resistance zone .
Cananra Bank has made Bullish Engulfing on Charts . Strict S/L should be maintained at 270.