BANKNIFTY technicals

- trend is up
- swing low around 30000
- double top near 31000

- note rally from 27500 to 30500 has taken a longer time than the same fall
- this is not  a bullish sign

- weekly expiry shows highest OI at 30500 PE-30000  PE
- monthly expiry shows highest OI at 30000 PE
- above levels are expected to give support
- this means option writers are bullish