BANKNIFTY analogy for 18th-20th Oct : Correction Towards 40500
BANKNIFTY Pre-analysis::::::::::::
Overall Structure : Bullish Correction
Index components : Positive Correlation
FGI Sentiments : Turnup+ ; Indian 38↑ & Global 29↑
FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI)
Insider Data : Bullish, PCR: 1.47↑, IVP: 48↑, IV: 24↑, VIX: 18.41↑ (31/37)↓
↑Up : 40300, 40500, 40700, 40900, 41200.
↓Down : 39800, 39600, 39200, 39000, 38800, 38500.
Market Opening(*Expected): Gapup
Activity: Short Covering/Short Buildup
Conclusion: Range Expected, Upper Rejection level @17600.
Have a Happy & Safe Trading!
(Data source20:00 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.
Overall Structure : Bullish Correction
Index components : Positive Correlation
FGI Sentiments : Turnup+ ; Indian 38↑ & Global 29↑
FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI)
Insider Data : Bullish, PCR: 1.47↑, IVP: 48↑, IV: 24↑, VIX: 18.41↑ (31/37)↓
↑Up : 40300, 40500, 40700, 40900, 41200.
↓Down : 39800, 39600, 39200, 39000, 38800, 38500.
Market Opening(*Expected): Gapup
Activity: Short Covering/Short Buildup
Conclusion: Range Expected, Upper Rejection level @17600.
Have a Happy & Safe Trading!
(Data source20:00 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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