BANKNIFTY analogy for 13th-20th Oct : Volatile/Breakout
BANKNIFTY Pre-analysis::::::::::::
Overall Structure : Sideway
Index components : Neutral Correlation
FGI Sentiments : Negative- 19↓ Indian & 20↓ Global
Insider Data : Neutral, PCR: 0.87↑, IVP: 54↑, IV: 24↑, VIX: 20.17↑ (34/39)↑
↑Up : 39350, 39550, 39750, 39950, 40200.
↓Down : 38850, 38650, 38380, 38150, 37950.
Market Opening(*Expected): Flat
Activity: Short Buildup/Short Covering
Conclusion: From above the nutshell, Derivative data shows negative where other components are neutral. Suggesting to no trade until break triangle pattern (symmetrical). Noticed the rejection point at 39700 at 2nd upper resistance. It's indecisive to advice the trend direction until breakout but probability of upside breakout with a pullback. Trade wisely on volatile market and pick the directional trade.
Have a Happy & Safe Trading!
(Data source22:00 IST)***
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***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88.6% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
Overall Structure : Sideway
Index components : Neutral Correlation
FGI Sentiments : Negative- 19↓ Indian & 20↓ Global
Insider Data : Neutral, PCR: 0.87↑, IVP: 54↑, IV: 24↑, VIX: 20.17↑ (34/39)↑
↑Up : 39350, 39550, 39750, 39950, 40200.
↓Down : 38850, 38650, 38380, 38150, 37950.
Market Opening(*Expected): Flat
Activity: Short Buildup/Short Covering
Conclusion: From above the nutshell, Derivative data shows negative where other components are neutral. Suggesting to no trade until break triangle pattern (symmetrical). Noticed the rejection point at 39700 at 2nd upper resistance. It's indecisive to advice the trend direction until breakout but probability of upside breakout with a pullback. Trade wisely on volatile market and pick the directional trade.
Have a Happy & Safe Trading!
(Data source22:00 IST)***
~~~~~~~~~~~~~~~~~~~~~~~~~
***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88.6% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
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