BANKNIFTY analogy for 17-24th Nov: Struggling to move up
BANKNIFTY Pre-analysis::::::::::::
Overall Structure : Neutral/ Bullish continuation
Index Components : Neutral Correlation
FGI Sentiments : Bullish ; Indian 60↑ & Global 67↑
FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI)
Insider Data : Neutral, PCR: 1.2↑, IVP: 1.19↓, Low IV: 16.7↓, VIX: 15.10↑ (24/30)↑
↑Upper Level : 42615, 42750, 42850, 43000, 43100, 43200.
↓Lower Level : 42400, 42230, 42100, 41950, 41800, 41600.
Market Opening(*Expected ORB): Flat/Gapdown to upward
Activity: Long Buildup/Short covering
Conclusion: From above the nutshell, Showing Derivative data was positive and sentiment is neutral. Here Global market indicates negative sign whereas the Asian market shows negative. Observed VIX is at lower top lower button and Bond yield shows deep down. It's probability of flat/gapdown to upward tomorrow (bullish continuation) and rallies/soars towards 43000 by this weekend after a volatile breakout.
Have a Happy & Safe Trading!
(Data source21:00 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% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
Overall Structure : Neutral/ Bullish continuation
Index Components : Neutral Correlation
FGI Sentiments : Bullish ; Indian 60↑ & Global 67↑
FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI)
Insider Data : Neutral, PCR: 1.2↑, IVP: 1.19↓, Low IV: 16.7↓, VIX: 15.10↑ (24/30)↑
↑Upper Level : 42615, 42750, 42850, 43000, 43100, 43200.
↓Lower Level : 42400, 42230, 42100, 41950, 41800, 41600.
Market Opening(*Expected ORB): Flat/Gapdown to upward
Activity: Long Buildup/Short covering
Conclusion: From above the nutshell, Showing Derivative data was positive and sentiment is neutral. Here Global market indicates negative sign whereas the Asian market shows negative. Observed VIX is at lower top lower button and Bond yield shows deep down. It's probability of flat/gapdown to upward tomorrow (bullish continuation) and rallies/soars towards 43000 by this weekend after a volatile breakout.
Have a Happy & Safe Trading!
(Data source21:00 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% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
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