Nifty Levels & Strategy for 21/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.
NIFTY
Nifty is up again by 194 points. PCR is up from 0.70 ( bearish zone) to 0.99 (sideways zone). It looks like Indian market has digested US FED hike up to 0.75%. If IT sector supports, then Nifty may not only cross 18K level but also make a move towards lifetime high in next few days. Tomorrow, Nifty is likely to trade sideways. What are your views? Please do share.
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Shifted down from 17500 to 17000)
BANK NIFTY
Bank Nifty is up by 564 points. Superb performance by Bank Nifty amid so many global issues. PCR is shifted up from 0.78 ( bearish zone) to 1.07 (mild bullish zone). Frankly, it’s strange to see bank nifty is once again close to lifetime high amid global issues (Strong USD, weaker Indian Rupee) as Indian issues like current account deficit is growing. If US market recovers in coming days then I will not be surprised to see Bank Nifty again not only making new lifetime high but also sustain at higher levels.
Highest open interest on call side at 41500 (Shifted up from 41500 to 42000)
Highest open interest on put side at 40000 (Shifted up from 38500 to 40000)
Shall we continue to look for sell on rise opportunities/profit booking till US Fed meeting ?????
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 based on strength in Indian market? Yes, I think so. What are your views?
1. near major support levels
2. near high OI in PE strikes with strict SL?
Overall, is Indian market likely to remain sideways till outcome of US FED meeting????? I think so. What do you think?
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!
NIFTY
Nifty is up again by 194 points. PCR is up from 0.70 ( bearish zone) to 0.99 (sideways zone). It looks like Indian market has digested US FED hike up to 0.75%. If IT sector supports, then Nifty may not only cross 18K level but also make a move towards lifetime high in next few days. Tomorrow, Nifty is likely to trade sideways. What are your views? Please do share.
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Shifted down from 17500 to 17000)
BANK NIFTY
Bank Nifty is up by 564 points. Superb performance by Bank Nifty amid so many global issues. PCR is shifted up from 0.78 ( bearish zone) to 1.07 (mild bullish zone). Frankly, it’s strange to see bank nifty is once again close to lifetime high amid global issues (Strong USD, weaker Indian Rupee) as Indian issues like current account deficit is growing. If US market recovers in coming days then I will not be surprised to see Bank Nifty again not only making new lifetime high but also sustain at higher levels.
Highest open interest on call side at 41500 (Shifted up from 41500 to 42000)
Highest open interest on put side at 40000 (Shifted up from 38500 to 40000)
Shall we continue to look for sell on rise opportunities/profit booking till US Fed meeting ?????
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 based on strength in Indian market? Yes, I think so. What are your views?
1. near major support levels
2. near high OI in PE strikes with strict SL?
Overall, is Indian market likely to remain sideways till outcome of US FED meeting????? I think so. What do you think?
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 20/Sep/2022FIIs: Highly Bullish
FIIs have bought in cash for 1196 Crores and bought in derivatives market for 4601 Crores. FIIs have heavily added bullish positions in index future (20362) & stock future (19626), index call, index put & stock call options. FIIs took little bearish positions stock put (736) option contracts. FIIs are clearly looking determined to take Indian market to new highs.
DIIs: Bearish
DIIs bought in cash market for 132 Crores. DIIs added bearish positions in index futures, stock futures, index put & stock call. Are DIIs doing profit booking at higher level?
Pro Traders: Mild Bullish
Pro traders took bearish positions in index futures (-491) & stock futures (-21034) with proper hedging. They have heavily added bullish positions in all types of options contracts.
Retail Traders: Highly Bearish
Retail traders have heavily added bearish positions in index futures (-10007) and all types of option contracts. Slight added bullish positions in stock futures contracts. Bank Nifty is on the verge of new lifetime high. May God saves retail traders.
Please do review, analyse and share your comments as well. Let us work and win together.
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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