Banknifty range setup for 1st Aug | Expecting a retest
Overall Structure : Uptrend
Index components : Neutral Correlation
FGI Sentiments : Low Risk - 81.90↑ Indian & 42↑ Global
Insider Data : Bullish , PCR: 0.90↓, IVP: 5↓, IV: 16.9↑,(Low) VIX: 16.55↓ (21/27)↓
↑Up : 37800, 38150, 38450, 37750;
↓Down : 37200, 36800, 36500, 36200;
Market Opening(*Expected): Flat to Downward
Activity : Short Buildup/Short Covering (rebalancing),
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Conclusion: Bnfy may move up towards 38500-40000 by the coming month after a retest up to 36800-36500. (Connect for more tips)
~~~~~~~~~~~~~~~~~~~~~~~~~
***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
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.
(Data source21:00 IST)***
Index components : Neutral Correlation
FGI Sentiments : Low Risk - 81.90↑ Indian & 42↑ Global
Insider Data : Bullish , PCR: 0.90↓, IVP: 5↓, IV: 16.9↑,(Low) VIX: 16.55↓ (21/27)↓
↑Up : 37800, 38150, 38450, 37750;
↓Down : 37200, 36800, 36500, 36200;
Market Opening(*Expected): Flat to Downward
Activity : Short Buildup/Short Covering (rebalancing),
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Conclusion: Bnfy may move up towards 38500-40000 by the coming month after a retest up to 36800-36500. (Connect for more tips)
~~~~~~~~~~~~~~~~~~~~~~~~~
***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
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.
(Data source21:00 IST)***
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.