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Bank Nifty Levels & Strategy for 04/Oct/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. BANK NIFTY Bank Nifty is trading within a range and getting ready for break out or breakdown. Bears as well as bulls are getting decent opportunities who are working level by level and earning well. FIIs were bullish in F&O on Friday and they have lifted the indices to clear their long positions. Today they have added bearish positions and US markets are trading in nice green. We should expect a correction till support level in case of gap-up in Indian market. BANK NIFTY SCORECARD DATED 03/OCT/2022 BANK NIFTY IS DOWN BY -602 POINTS Name Price Previous Day Change % Change Bank Nifty 38030 38632 -602.30 -1.56% India VIX 21.37 19.97 1.40 7.00% OPTION STATISTICS BASED ON 06/OCT/2022 EXPIRY DATA Max OI (Calls) 40000 (Open Interest: 3368950) Max OI (Puts) 37000 (Open Interest: 1856600) PCR 0.73 (PCR is in bearish zone) Bank Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Short covering, OTM:Short covering, ITM:Long Buildup, FAR OTM:Short covering Shall we look for buy on dips opportunity at support levels & sell on rise with strict SL at higher levels as long as Bank Nifty is trading within a range? Yes, I think so. What do you think? Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
NSE:BANKNIFTY
by manishmgupta
2
Banknifty daily analysis for 04/10/22Banknifty on the daily time frame has formed an inside candle and is trading between 20 and 200 DMA. The market opened lower and from the first hour came for selling. Banknifty tried to hold the levels and in the second half the market faced a huge sell off and closed 600 points lower. The market, on the hourly time frame, took a resistance from its 20 ema. Even on the 15 minute time frame, the index has faced resistance from the 20 ema. Support :- 38000, 37280, 37680 Resistance :- 38158, 38280, 38530 The market has remained in a consolidation and has formed an inside candle. Take a trade only if the market crossed today's high or low. Wait for the price action near the price level before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
Bank Nifty Level & Strategy for 30/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. BANK NIFTY Today's gap-up was sold in no time and once again, Bank Nifty closed in red & below 50 DMA. Bank Nifty is still trading above 100 & 200 DMA levels. Bank Nifty continued to remain in oversold zone and looking weak ahead of RBI policy/rate hike on 30/Sep/2022. We are expecting RBI rate hike upto 0.5% and majority of the global factors is already priced in. Tomorrow's move will be based on RBI's rate hike & post hike commentary. BANK NIFTY SCORECARD DATED 29/SEP/2022 BANK NIFTY IS DOWN BY -112 POINTS Name Price Previous Day Change % Change Bank Nifty 37648 37760 -112.10 -0.30% India VIX 21.30 22.10 -0.79 -3.59% OPTION STATISTICS BASED ON 06/OCT/2022 EXPIRY DATA Max OI (Calls) 41000 (Open Interest: 1529125) Max OI (Puts) 36000 (Open Interest: 1013725) PCR 0.61 (PCR is in oversold zone) Bank Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Please do wait & watch for RBI's policy and commentary. Tomorrow, once again trading is likely to be volatile only. Price-action on chart will be give you the correct picture. Work level by level to avoid big surprises. Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
NSE:BANKNIFTY
by manishmgupta
Bank Nifty Levels & Strategy for 29/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. BANK NIFTY Bank Nifty closed in red and below 50 DMA but still trading above 100 & 200 DMA levels. Bank Nifty is highly oversold and looking weak ahead of RBI policy/rate hike on 30/Sep/2022. RBI rate hike upto 0.5% and majority of the global factors is already priced in. Today, US market is trading in green. Let us expect a good recovery in next few days from 2 year's low levels. Traders should wait for a pullback and short/take bearish positions at higher levels with strict SL only otherwise they may easily get stuck into beartrap. BANK NIFTY SCORECARD DATED 28/SEP/2022 BANK NIFTY IS DOWN BY -599 POINTS Name Price Previous Day Change % Change Bank Nifty 37760 38359 -599.30 -1.56% India VIX 22.10 21.57 0.53 2.45% OPTION STATISTICS BASED ON 29/SEP/2022 EXPIRY DATA Max OI (Calls) 40000 (Open Interest: 3678900) Max OI (Puts) 36000 (Open Interest: 2111375) PCR 0.51 (PCR is in highly oversold zone) Bank Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Long Buildup, OTM:Short covering, ITM:Short covering, FAR OTM:Long Buildup Shall we continue to look for sell on rise opportunities ????? Yes, I think so. What do you think? 1. Only at higher level after decent pull back from lower levels 2. near major resistance levels 3. near high OI in CE strikes with strict stoploss? Shall we look for buy on dips opportunity ????? Yes, I think so. What are your views? 1. near major support levels 2. near high OI in PE strikes with strict SL? However, it’s quite important to check & review following prior to finalize your strategy/work plan for next trading session. Market is very dynamic and overnight situation may get change. 1. Global cues based on EOD data 2. FIIs/DIIs/Big player cash & F&O data analysis Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
NSE:BANKNIFTYLong
by manishmgupta
Bank Nifty Levels & Strategy for 28/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. Bank Nifty Bank Nifty closed in red below 50 DMA. Bank Nifty is also in oversold category. US market has already corrected more than 20%. Has US market entered bear phase or we will seeing reversal from these levels ????? Today, US market is trading in mild green. BANK NIFTY SCORECARD DATED 27/SEP/2022 BANK NIFTY IS DOWN BY -257 POINTS Name Price Previous Day Change % Change Bank Nifty 38359 38616 -257.10 -0.67% India VIX 21.57 21.89 -0.33 -1.48% OPTION STATISTICS BASED ON 29/SEP/2022 EXPIRY DATA Max OI (Calls) 41000 (Open Interest: 4419325) Max OI (Puts) 38000 (Open Interest: 2227075) PCR 0.51 (PCR is in highly oversold zone) Bank Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Short Buildup, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Short Buildup Shall we continue to look for sell on rise opportunities ????? Yes, I think so. What do you think? 1. Only at higher level after decent pull back from lower levels 2. near major resistance levels 3. near high OI in CE strikes with strict stoploss? Shall we look for buy on dips opportunity ????? Yes, I think so. What are your views? 1. near major support levels 2. near high OI in PE strikes with strict SL? However, it’s quite important to check & review following prior to finalize your strategy/work plan for next trading session. Market is very dynamic and overnight situation may get change. 1. Global cues based on EOD data 2. FIIs/DIIs/Big player cash & F&O data analysis Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
NSE:BANKNIFTY
by manishmgupta
Bank Nifty Levels & Strategy for 27/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. BANK NIFTY Today also Bank Nifty continued with it's correction. Overall correction in last one week is really significant. US market has also corrected significantly. Bank Nifty as well Global markets are highly oversold. FIIs have sold heavily in cash & added bullish positions in F&O. Shall we expect a bounce/relief rally in next few days? BANK NIFTY SCORECARD DATED 26/SEP/2022 BANK NIFTY IS DOWN BY -930 POINTS Name Price Previous Day Change % Change Bank Nifty 38616 39546 -930.00 -2.35% India VIX 21.89 20.59 1.30 6.31% OPTION STATISTICS BASED ON 29/SEP/2022 EXPIRY DATA Max OI (Calls) 41000 (Open Interest: 4596825) Max OI (Puts) 37000 (Open Interest: 1987625) PCR 0.55 (PCR is in oversold zone) Bank Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Long Buildup, OTM:Long Buildup, ITM:Long Buildup, FAR OTM:Short covering Shall we continue to look for sell on rise opportunities ????? Yes, I think so. What do you think? 1. Only at higher level after decent pull back from lower levels 2. near major resistance levels 3. near high OI in CE strikes with strict stoploss? Shall we look for buy on dips opportunity ????? Yes, I think so. What are your views? 1. near major support levels 2. near high OI in PE strikes with strict SL? However, it’s quite important to check & review following prior to finalize your strategy/work plan for next trading session. Market is very dynamic and overnight situation may get change. 1. Global cues based on EOD data 2. FIIs/DIIs/Big player cash & F&O data analysis Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
NSE:BANKNIFTY
by manishmgupta