Bank Nifty Levels & Strategy for 27/Sep/2022
Updated
Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
BANK NIFTY
Today also Bank Nifty continued with it's correction. Overall correction in last one week is really significant. US market has also corrected significantly. Bank Nifty as well Global markets are highly oversold. FIIs have sold heavily in cash & added bullish positions in F&O. Shall we expect a bounce/relief rally in next few days?
BANK NIFTY SCORECARD DATED 26/SEP/2022
BANK NIFTY IS DOWN BY -930 POINTS
Name Price Previous Day Change % Change
Bank Nifty 38616 39546 -930.00 -2.35%
India VIX 21.89 20.59 1.30 6.31%
OPTION STATISTICS BASED ON 29/SEP/2022 EXPIRY DATA
Max OI (Calls) 41000 (Open Interest: 4596825)
Max OI (Puts) 37000 (Open Interest: 1987625)
PCR 0.55 (PCR is in oversold zone)
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Long Buildup, OTM:Long Buildup, ITM:Long Buildup, FAR OTM:Short covering
Shall we continue to look for sell on rise opportunities ????? Yes, I think so. What do you think?
1. Only at higher level after decent pull back from lower levels
2. near major resistance levels
3. near high OI in CE strikes with strict stoploss?
Shall we look for buy on dips opportunity ????? Yes, I think so. What are your views?
1. near major support levels
2. near high OI in PE strikes with strict SL?
However, it’s quite important to check & review following prior to finalize your strategy/work plan for next trading session. Market is very dynamic and overnight situation may get change.
1. Global cues based on EOD data
2. FIIs/DIIs/Big player cash & F&O data analysis
Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
BANK NIFTY
Today also Bank Nifty continued with it's correction. Overall correction in last one week is really significant. US market has also corrected significantly. Bank Nifty as well Global markets are highly oversold. FIIs have sold heavily in cash & added bullish positions in F&O. Shall we expect a bounce/relief rally in next few days?
BANK NIFTY SCORECARD DATED 26/SEP/2022
BANK NIFTY IS DOWN BY -930 POINTS
Name Price Previous Day Change % Change
Bank Nifty 38616 39546 -930.00 -2.35%
India VIX 21.89 20.59 1.30 6.31%
OPTION STATISTICS BASED ON 29/SEP/2022 EXPIRY DATA
Max OI (Calls) 41000 (Open Interest: 4596825)
Max OI (Puts) 37000 (Open Interest: 1987625)
PCR 0.55 (PCR is in oversold zone)
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Long Buildup, OTM:Long Buildup, ITM:Long Buildup, FAR OTM:Short covering
Shall we continue to look for sell on rise opportunities ????? Yes, I think so. What do you think?
1. Only at higher level after decent pull back from lower levels
2. near major resistance levels
3. near high OI in CE strikes with strict stoploss?
Shall we look for buy on dips opportunity ????? Yes, I think so. What are your views?
1. near major support levels
2. near high OI in PE strikes with strict SL?
However, it’s quite important to check & review following prior to finalize your strategy/work plan for next trading session. Market is very dynamic and overnight situation may get change.
1. Global cues based on EOD data
2. FIIs/DIIs/Big player cash & F&O data analysis
Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
Note
FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 26/Sep/2022FIIs: Bullish in F&O, Bearish in Cash
FIIs have sold in cash for -5101 Crores and bought in derivatives market for 11697 Crores. FIIs have added bullish positions in index futures (10383), stock futures (10727), index call (33706), stock call and stock put. FIIs added bearish positions in index put. Overall, FIIs sold heavily in cash market and added bullish positions in F&O.
DIIs: Bullish in Cash & Bearish in F&O
DIIs bought in cash market for 3532.18 Crores. DIIs have added bearish positions in stock futures (-10769) and stock call options. DIIs did profit booking in index futures, index put options.
Pro Traders: Bearish
Pro traders have taken bearish positions in index futures (-9594), index call (-137998), stock call and stock put options. Added bullish positions in index put (-98224) and stock futures (19437) and hedged using stock call options.
Retail Traders: Bullish
Retail traders have reduced long as well as short positions in index futures, stock future contracts, stock call and stock put options. Added bullish positions in index call (447645) and bearish positions in index put (65197) options.
Please do review, analyse and share your comments as well. Many thanks for following me on twitter, liking my analysis & retweet. Let us work and win together. Wish you a very happy, healthy & profitable trading day ahead!
Disclaimer: I have analysed the data based on my limited knowledge. I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me for trading as it may lead to financial losses. Please consult your financial advisor before trading.
Disclaimer
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