BANKNIFTY analogy for 21-24th Nov: Required a Reverse Correction
BANKNIFTY Pre-analysis::::::::::::
Overall Structure : Sideway
Index Components : Neutral Correlation
FGI Sentiments : Bullish; Indian 61↑ & Global 62↓
FII /DII Status : Neutral in Cash Market & Derivatives (With Combined OI)
Insider Data : Neutral, PCR: 0.87↓, IVP: 0.4↓, Low IV: 14.78↓, VIX: 14.39↓ (23/29)↓
↑Upper Level : 42600, 42750, 42850, 43000, 43100.
↓Lower Level : 42230, 42100, 41950, 41800, 41600.
Market Opening(*Expected ORB): Flat/Gapup
Activity: Long Buildup/Short Buildup
Conclusion: From above the nutshell, Showing Derivative data was neutral and sentiment is still bullish . Here Global market indicates negative sign whereas the Asian market shows negative. Observed VIX is continued to drop towards #12 by forming lower top lower button and Bond yield shows neutral too. It's probability of a short correction(L-41500) for bullish impulse(L-44000).
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 : Sideway
Index Components : Neutral Correlation
FGI Sentiments : Bullish; Indian 61↑ & Global 62↓
FII /DII Status : Neutral in Cash Market & Derivatives (With Combined OI)
Insider Data : Neutral, PCR: 0.87↓, IVP: 0.4↓, Low IV: 14.78↓, VIX: 14.39↓ (23/29)↓
↑Upper Level : 42600, 42750, 42850, 43000, 43100.
↓Lower Level : 42230, 42100, 41950, 41800, 41600.
Market Opening(*Expected ORB): Flat/Gapup
Activity: Long Buildup/Short Buildup
Conclusion: From above the nutshell, Showing Derivative data was neutral and sentiment is still bullish . Here Global market indicates negative sign whereas the Asian market shows negative. Observed VIX is continued to drop towards #12 by forming lower top lower button and Bond yield shows neutral too. It's probability of a short correction(L-41500) for bullish impulse(L-44000).
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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