Slight Short positions were created in Nifty Futures
No Signs of SShorts in Bank Nifty Futures.
Heavy Profit booking in Bank Nifty Index.
Crucial Support for Nifty is at 11580-11550-11540
Shorts could be build if Nifty violates 11580-1575 levels.
Nifty is at Important 20 DMA
Highest Put Open Interest Stands at 11500
Highest Call Ope Interest Stands at 11700 and 12000
Max Pain Moved Down close to 11600
20DMA has been Violated and closed.
29640 would be critical for Bank Nifty.
Technically it is week.
29600-29640 would be crucial
Highest Open Interest is at 30000 Call
Highest Open Interest is at 26500 Put.
If Bank Nifty Violates 29640-29630 then new shorts could be build by FII.
VIEW: Today is very crucial to see if Bank Nifty Regains 20 DMA and does not break Technical Levels.
Bank Nifty Range:29500-29800 . Expecting Mild Positive-Mild Negative.
Nifty Very Crucial Levels. should Hold 10575 levels and expecting Mild Positive.