On Daily chart, Bank Nifty (BNF) has given 4th successive Lower Low and Lower High. It has closed below 76.8% Fibonacci level (29,220) and is between 100 & 200 DEMA without any certified support.The next support could be 88.6 % Fibo level of 28,895 which is around 230 points down. Option chain analysis shows, on PUT side highest total OI of 6.86 lakhs is at 29000 with fresh PUT writing at 11040 contracts ONLY! At no strike we see fresh Put writing more than 55000 contracts which compares very poorly with fresh Call writing, especially when we are so near expiry. On CALL side however, on all strikes near ATM, fresh Call writing is above 1.80 lakhs, highest (3.54 lakhs) being at 29600. The highest total OI (8.16 lakhs; lesser than 6.86 lakhs) is at 29500. In fact 29200 and 29300 also have impressive call writing. This clearly means that Call writers are very confident that even 29300 & 29400 seems challenging. The fall in Nifty will be triggered and lead by fall in BNF. The levels are there on chart.