BankNifty Trade setup idea for 12-september-2022Since Friday had a big gapup, and sellers were activated to bring the price lower. Sellers might get activated today as well. For BN to be bullish, the price should hover around 40300 levels or above.
- If the price goes lower than 40300, then sellers would get activated again. We could see them pulling the price down to 40000 levels.
- If the price doesnt break the 40300 levels, then we could see a volatile market.
- If there is a gapup, then the price wont sustain at that level, since the sellers would get activated.
If BN needs to move up to new high and sustain there I would prefer it to hover around these levels for this week before it moves higher.
Bankniftylevels
Bank Nifty Levels & Strategy for 12/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is up by 207 points. Bank Nifty performed well and closed above 40K level which should be considered really good amid ongoing global issues. Bank Nifty comfortably traded above 40K even after significant rate hike of 75 basis points by ECB. Has Bank Nifty credit growth improved significantly????? Has NPA gone down in recent past ????? Are these the main reason behind the rally? What do you think?
Has Break out in Bank Nifty sustained amid global issues? Yes, it looks like breakout is sustained above 40K level. What do you think?
Highest open interest on call side at 40500 (Shifted down from 41000 to 40500)
Highest open interest on put side at 39000 (Shifted down from 39500 to 39000)
NIFTY
Nifty is up by 35 points. It’s really important to understand that Nifty has sustained 17800 plus critical make or break levels amid global issues & profit booking by big traders. PCR is down from 1.17 ( bullish zone) to 0.89 ( bearish zone). Overall, Nifty performed well and hit the majority of the targets as expected. It's really difficult for option writers to manager gap-ups & gap-downs. These days, we are having higher swings in both the direction due to high liquidity and better retail traders participation. Support Zone in Nifty is shifted up. Important resistance levels became new support levels. IT sector has started performing now. Hoping, it will lift Nifty to new lifetime high.
Is Nifty getting ready to touch new lifetime high?
If Nifty crosses & sustained above 18000 level, then shall we expect Nifty to move further up?
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)
Shall we continue look for sell on rise opportunities? I don’t think so. What do you think?
Shall we continue look for buy on dips opportunities near major support? Yes, I think so. What do you think?
Please do share your comments. Have a very happy, healthy & profitable day ahead!
BankNifty Trade setup Idea for 09 September, 2022After the massive breakout yesterday, for the next couple of days, the market could move up to the next resistance levels.
Once it hits the 41200-41300 levels, it could test the 40000 levels again.
There is not much of resistance in between these 2 levels.
The US inflation numbers are coming next week, the retest could match with that timeframe.
Bank Nifty Levels & Strategy for 09/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is up by 753 points. Extra ordinary performance by bulls lifted up Bank Nifty beyond the major resistance zone . It will be interesting to watch whether breakout will sustain amid global issues and after ECB hike by 75 to 100 basis points today or it will get back into previous trading range.
Highest open interest on call side at 41000 (Shifted up from 40000 to 41000)
Highest open interest on put side at 39000 (Shifted up from 39000 to 39500)
NIFTY
Nifty is up by 174 points. Steller performance by Nifty . PCR shifted up from 0.92 ( bearish zone) to 1.17 ( bullish zone). Nifty performed beyond expectation and hit all the targets. Option writers also made good money as most of them timely close CE leg and PE writing continued through the trading session. Today we had a very nice trending day and retail traders could make good money based on their huge overnight buy position in F&O contracts. Support Zone in Nifty is shifted up. Resistance Levels became New Support Levels.
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17500 (Shifted up from 17000 to 17500)
Will Break out in Nifty sustain amid global issues? Is Nifty getting ready to touch new life time high ?
Shall we continue look for buy on dips opportunities near major support levels?
My view is neutral with positive bias. However let us see how global markets reacts overnight after ECB hike by 75 to 100 basis points. Please do review & analyze EOD closing data for preparing tomorrow's trade plans.
Please do share your comments. Have a very happy, healthy & profitable day ahead!
Banknifty daily analysis for 09/09/22Banknifty has finally crossed and sustained above the level of 40k.
Index remained in a bullish momentum and gave a nice bullish marubozu candle.
On the hourly time frame, it remained bullish whole day and crossed upto the level of 40200.
The market travelled nicely, and remained in a parallel channel whole day.
Banknifty seems to carry on the bullish mode and give nice bullish momentum even for tomorrow.
Support :- 40055, 39850, 39600
Resistance :- 40250, 40840, 41000
Wait for the markets to take out today's high and price action near the levels.
BankNifty Trade setup Idea for 8-September-2022Banknifty is not looking as strong as Nifty.
These are the 4 possible scenarios.
1. Gapup - there might be some volatility around 39700 range and then it might move up.
2. Gapdown - there might be some volatililty around the 39300 levels and then move down.
3. if the stock opens at the same levels and moves down, the price might halt at around 39300 levels and then move down.
4. If the stock opens at the same levels and then moves up, the price might halt around 39700 levels till 12:30 then might move up..
Looking at the global index, the market might gapup.
Bank Nifty levels & strategy for 07/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
FIIs bought in cash market for 1145 crores and bought in F&O for 1642 crores (what they bought? In reality they have shorted calls & bought puts which means they are actually bearish only). DIIs also bought in cash market for 633 crores. FIIs reduced long positions in Index future & stock future contracts and added short positions in index call & stock call options & long positions in index put & stock put stock put options. Today, FIIs are bearish in all types of contracts.
DIIs are also bearish in all types of contracts. Pro traders followed balanced approach. Pro traders have added long contracts in Index future, stock future & hedged their future contract positions using option contracts. Retail traders have added long positions in all types of contracts. If market goes down & break any major support, then it may create panic selling situation for retail traders. May God save retail traders.
BANK NIFTY
Bank Nifty is down by -139.25 points. Bank Nifty offered opportunities to both bulls as well as bears. PCR shifted down from 1.2 (bullish zone) to 0.91 (bearish zone).
Highest open interest on call side at 40000 (Remained at same level)
Highest open interest on put side at 39000 (Shifted up from 38000 to 39000)
NIFTY
Nifty is down by just -10.2 points. PCR shifted down from 1.07 (bullish zone) to 0.87 (bearish zone). Nifty traded in both the directions. SL & TSL hitting day for majority of the retail traders. Nifty is slowly getting ready for breaking the range on either side.
Highest open interest on call side at 17800 (Shifted down from 18000 to 17800)
Highest open interest on put side at 17000 (Remained at same level)
Shall we continue look for sell on rise opportunities near major resistance levels with strict SL? and
Shall we continue look for buy on dips opportunities near major support levels till indices are trading in a range?
Please do share your comments. Have a very happy, healthy & profitable day ahead!
Bank Nifty Level & Strategy for 06/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
FIIs sold in cash -812 crores and bought in F&O 3862 crores. DIIs bought in cash market 534 crores. FIIs added long positions in F&O Index future & stock contracts and reduced short positions in index put & stock put options. FIIs are bullish on market.
DIIs added short contracts in Index future, stock future & stock call option. DIIs are bearish on market. Pro traders followed balanced approach. Pro traders have added short contracts in Index future, stock future & hedged their positions using option contracts. Retail traders have added short contracts in Index future, stock future & index short call. Retail traders also heavy bought index put long & stock put long options except stock call long options. Overall retail traders are highly bearish on the market. May god save retail traders.
BANK NIFTY
Bank Nifty is up by 385 points. Bank Nifty firmly today. PCR shifted up from 0.91 (bearish zone) to 1.2 (buying zone) amid global issues like US Dollar Index at 20 year high, Russia stopping gas supply to Europe & few more.
Highest open interest on call side at 40000 (Shifted up from 39500 to 40000)
Highest open interest on put side at 38000 (Remained at same level)
Federal Bank denied reports of a likely merger with Kotak Bank (slightly negative for BN). SBI 2700 Crores received dues from Vodafone ahead their planned schedule. I don't trade or recommend Vodafone Idea stock but this news is certainly positive for SBI & therefore Bank Nifty
NIFTY
Nifty is up by just 126 points. PCR shifted up from 0.80 (bearish zone) to 1.07 (buying zone). Nifty traded sideways after initial gap-up. Nifty is trading near major resistance zone. Let us see if Nifty breaks out above 17777 level and make a move towards 18000 level.
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Remained at same level)
Shall we continue look for sell on rise opportunities near major resistance levels with strict SL? Or
Shall we look for buy on dips opportunities near major support levels till it is trading in a range?
Please do share your comments. Have a very happy, healthy & profitable day ahead!
Bank Nifty Levels & Strategy for 05/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is up by 120 points. Bank Nifty remained sideways for most of time. PCR shifted up from 0.84 ( bearish zone) to 0.91 ( bearish zone). Call side OI is daily shifting up & down. Let us see when 38000 will be challenged amid ongoing global issues.
Highest open interest on call side at 39500 (Shifted down from 40000 to 39500)
Highest open interest on put side at 38000 (Remained at same level)
NIFTY
Nifty closed flat & closed by just -3.35 points. PCR shifted from 0.89 ( bearish zone) to 0.80 ( bearish zone). Trading in Nifty was easy & predictable. Nifty has followed the technical setup and gave opportunities to bulls as well bears and finally closed flat.
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Remained at same level)
Shall we continue look for sell on rise opportunities near major resistance levels with strict SL? Or
Shall we look for buy on dips opportunities near major support levels till it is trading in a range?
Please do share your comments. Have a very happy, healthy & profitable day ahead!
Bank Nifty Levels & Strategy for 02/Sep/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is down by -235.5 points. Bank Nifty remained sideways for most of time after initial gap-down & recovery. PCR shifted from 1.54 (overbought zone) to 0.84 (bearish zone). Daily quick swings/sudden changes in OI are making life difficult for option writers.
Highest open interest on call side at 40000 (Shifted down from 41000 to 40000)
Highest open interest on put side at 38000 (Remained at same level)
NIFTY
Nifty is down by -216.5 points. Today, initially Nifty has given chance to bears as well as bulls for making decent profits who worked level by level in disciplined manner. Later, option writers made good money. A perfect day for a trader who understands technical/OI (open interest) changes well. PCR shifted from 1.3 (bullish zone) to 0.89 (bearish zone).
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Remained at same level)
Shall we look for sell on rise opportunities near major resistance levels with strict SL? Or
Shall we look for buy on dips opportunities near major support levels?
Please do share your comments. Have a very happy, healthy & profitable day ahead!
BankNifty Trade setup Idea for 1 September, 2022Banknifty closed suuuper bullish on 30th August.
Which brings the following possibilities.
1. The market opens with a gapup, say 300-400 points higher. On which case, we could see some profit booking immediately and then there could be a consolidation.
2. Market opens between 39400-39550 levels, the market could build momentum and push higher to about 39900 levels and then consolidate in that range.
3. Market gaps down, say to 39200 level, which could cause a panic and cause continued selling, causing the market to reach 38800-38900 levels.
Bank Nifty Levels & Strategy for 01/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is jumped up by 1260 points. Bank Nifty closed near day’s high, above 20 EMA, VWAP levels. Bank Nifty continued moving up after initial gap-up. Surprisingly, there was no retracement. One of the very rare days. PCR at 1.54 is shifted from oversold zone to overbought zone. Bulls got trapped on 29th Aug & Bears got trapped on 30th Aug. Traders can not work with fixed mindset. We should be dynamic and quick enough in working level by level. We need to study & analyse all inputs and follow market price action. Market is supreme. If our view goes right, then ride on profit using TSL else be quick in taking SL. SL should not be kept in mind. Trader should trade with strict SL and SL order should be place within 60 seconds of placing trade order. Risk:Reward ratio of 1:2 should be maintained which will ensure that we will remain profitable even if our 50% decision goes right.
Highest open interest on call side at 41000 (Shifted up from 39500 to 41000)
Highest open interest on put side at 38000 (Remained at same level)
NIFTY
Nifty is up by 446 points (simply mind-blowing, mind-boggling rally within a day). Nifty closed near day’s high, above 20 EMA, VWAP levels. One way move without any red candle on 15 min chart is amazing & shocking for majority of the traders like me. Honestly, I didn’t anticipate such a one-way strong rally specially after heavy selling by FIIs just a day before. I had clear negative bias but finally followed the price action and OI data (heavy put writing & short covering in calls) which really helped me trading in the direction of trend. Overall, I was relatively safe as my overnight positions are always hedged. Today, Indian markets are closed and SGX Nifty is down by 300 plus points at this point of time. Now, are we getting ready for a gap-down? Let us see, how it goes tomorrow as situation may get change over-night?
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Remained at same level)
Shall we look for sell on rise opportunities near major resistance levels with strict SL? Or
Shall we look for buy on dips opportunities near major support levels?
Friends, your trading decision should be based on data, price action and your own understanding. Don’t let emotions take-over your trust & trading/investment skills. Please do learn how ride on profit using TSL and timely exit with market SL & not your SL.
Please do share your comments. Have a very happy, healthy & profitable day ahead!
BankNifty Idea for 29 August, 2022 - Trade setupDue to global data, the market might open with a gap down or move down initially.
The immediate support is at 38800, but since the market has already tested it once, this level might break if the market has higher selling pressure.
The next level of support is at around 38400 levels.
On the higher side, i see a resistance at around 39500 levels.
Is Bank Nifty getting ready for breakout or breakdown ?Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
Bank Nifty trading in very narrow range and getting ready for directional move.
OI data indicating weakness. Let us see how it goes.
Bank Nifty Levels for 25/08/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is further up by 341 points. Bank Nifty is looking good & closed above 20 EMA , VWAP level near day’s high. Once again, we had a highly volatile day. PCR shifted up from 0.90 to 1.08 which is now back in bullish zone.
Highest open interest on call side at 40000 (Remained same as yesterday)
Highest open interest on put side at 38000 (Shifted down from 38500 to 38000)
NIFTY
Nifty is slightly up by 27 points. Nifty closed above 20 EMA , VWAP level near day’s high. Once again, we had a highly volatile day. PCR remained flat from 0.83 to 0.84 which is still in bearish zone. Nifty hourly chart has formed flag & pole pattern which is also indicating bearishness in price action on chart.
Highest open interest on call side at 18000 (Same as yesterday)
Highest open interest on put side at 17000 (Shifted down from 17500)
Shall we continue to expect high volatility till outcome of Jackson Hole meeting?
Shall we look for buy on dips and sell on rise opportunities with suitable SL/TSL?
Please do share your comments. Have a happy, healthy & profitable day ahead!
Bank Nifty Level for 26/08/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is down by -88 points. Bank Nifty closed near day’s low, below 20 EMA, VWAP levels. Once again, we had a highly volatile day. PCR shifted down from 1.08 to 0.66 which is now back in bearish zone.
Highest open interest on call side at 39500 (Shifted down from 40000 to 39500)
Highest open interest on put side at 39000 (Shifted up from 38000 to 39000) – BULLS GOT TRAPPED
NIFTY
Nifty is down by -82.5 points. Nifty closed near day’s low, below 20 EMA, VWAP levels. Once again, we had a highly volatile day. PCR shifted below from 0.84 to 0.76 which is still in bearish zone.
Highest open interest on call side at 18500 (Shifted up from 18000 to 18500)
Highest open interest on put side at 17000 (Remained same at 17000)
Shall we expect trending market tomorrow after Jackson Hole meeting outcome?
Please do share your comments. Have a happy, healthy & profitable day ahead!
BankNifty Idea for 25 August, 2022 - Expiry Day Trade SetupSince the Market showed bullish signs yesterday. There are 2 possibilities.
Red: If the market opens at the same level or a little lower, then market can hit the break out level before reaching the 39200 levels. The level 39200 is an important level since lot of short covering would happen at that level.
Blue: If the market directly moves towards 39200, it might halt there for some time before breaking that level. Once it breaks that level, there is a higher chance we could see lot more short covering.
If the market opens with a big gapup of say 39300-39400, then there will be some amount of confusion created in the market. This might lead to BN moving down towards 39200-39250 levels to take support(hover around in that area till 11-11:30) then the market would decide.
BankNifty Idea for 24 August, 2022Since the maket opened at 38000 levels yesterday, the sellers make huge profit in 2 days(about 1500 points). They would have wanted to buy a cover causing the market to have a good recovery.
Now since the market closed around 38850 levels, I think the market might take a pause today and become volatile in the range of 38800 to 39050, if the market opens at the same level or gaps up by 10-200 points.
If the market closes within the same level, then on thursday we might get a good buying opportunity on the up side, leading to a 300-500 point move.
Bank Nifty Levels for 24/08/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is up by 400 points. Bank Nifty closed above 20 EMA, VWAP level near day’s high. We had a highly volatile day. PCR shifted down from 0.61 to 0.90 which is still in bearish zone.
Highest open interest on call side at 40000 (Shifted up from 39500)
Highest open interest on put side at 38500 (Shifted up from 37000)
FIIs, DIIs & OTHER PARTICIPANTS DERIVATIVE DATA ANALYSIS:
FIIs (Bullish):
FII bought in cash market for 563 crores and bought in derivative market contract for 6510 crores (please do continue to read about whether they bought long positions or short positions). FIIs reduced their index & stock future long contracts & added short positions in index & stock future contracts. FIIs took long positions in index call as put contracts & reduced stock call & put contracts.
DIIs (Mild Bullish):
DII sold in cash for -215.2 Crores. DIIs have slightly added new positions in Index & stock future contracts. Heavily reduced positions in options contracts.
PRO (Bearish):
Pro traders have added short index & stock future contracts. Reduced option contracts in index & stock call contracts. Added option contacts in index & stock put contracts.
CLIENT (Bearish):
Retail/HNI added index & stock future contracts. Significantly reduced their index & stock call option contracts. Added index put contacts & reduced stock put long & short contracts.
Shall we continue to expect high volatility in next few days?
Shall we look for buy on dips or sell on rise opportunities?
Please do share your comments. Have a happy, healthy & profitable day ahead!
Bank Nifty Index Levels for 23/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Indix VIX further jumped up by 4.12% from 18.29 to 19.04. Dow Jones is down 494 points and Nasdaq is down by 287 points at this point of time. Please do check closing data for tomorrow's trading reference. US DOLLAR INDEX has up beyond 108 level and continuous weakness in Rupee is certainly not a good sign for Banking sector as a whole.
Bank Nifty closed below 20 EMA and VWAP level. We had a highly volatile day. PCR shifted down from 0.67 to 0.61 which is clearly in bearish zone now. Today also selling was quite sharp .
Highest open interest on call side at 39500.
Highest open interest on put side at 37000.
FIIs, DIIs & OTHER PARTICIPANTS DERIVATIVE DATA ANALYSIS:
FIIs (Bearish):
FII sold in cash market for -454 crores and bought in derivative market contract for 3319 crores (please do continue to read about whether they bought calls to add new long positions or bought puts to add more short positions in the system). FIIs significantly reduced their long as well as short contract in Index future and added short stock future contracts. FIIs took long positions in calls. FIIs significantly added two times PUT long positions in Index compare to short positions. FIIs are heavily short in stock futures and hedged their positions using call & put options.
DIIs (Mild Bullish):
DII sold in cash for -85 Crores. DIIs have reduced their positions in Index & future contracts.
PRO (Bearish):
Pro traders have reduced their long index & stock future contracts and heavily wrote call options in index & stocks.
CLIENT (Bullish):
Retail traders significantly reduced their long future contract positions in index & stocks. Heavily wrote call options in index, bought puts & calls hedge their position
Overall, shall we continue expect high volatility in coming week?
Shall we look for sell on rise opportunities based negative cues? or
Is market is taking few steps back for bigger move towards all time high?
We are getting close to important support level. Please do watch it carefully to avoid getting into bears trap & bulls trap in bounces.
PLEASE DO SHARE YOUR FEEDBACKS AS WELL AND TRADE SAFELY & CAREFULLY WITH STRICT SL (STOP LOSS) & MAXIMISE YOUR PROFIT USING TRAILING SL.
Have a happy, healthy & profitable day ahead!
Bank Nifty - Shall we expect high volatility in next week ?Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Indix VIX jumped up 5.39% from 17.35 to 18.29. Dow Jones is down 292.3 points and Nasdaq is down by 263 points which is decent correction in a day. US DOLLAR INDEX has gone up to 108 level and weakness in Rupee is certainly not a good sign for Banking sector as a whole.
Bank Nifty closed below 20 EMA and VWAP level. We had a highly volatile day. PCR shifted from 1.2 to 0.67 is now in bearish zone. Bank Nifty has wiped out the 3 days of gains within a gap. Selling was quite sharp.
Highest open interest on call side at 39500. However call writing increased significantly
Highest open interest on put side at 38000. However heavy short covering and OI reduced significantly on put side.
FIIs, DIIs & other participants derivative data analysis:
FIIs:
FIIs have bought in cash & heavily sold all types of derivative contracts on net basis. FIIs change their bullish stance to bearish in no time. Let us see if they will continue to sell or it's just a profit booking
DIIs:
DIIs have sold in cash but bought 18000 plus future contracts in Index & stocks to partially absorb FIIs selling
PRO:
Pro traders too bought 14000 plus future contracts in Index & stocks but they have hedged their positions by selling calls & buying puts.
RETAIL/HNI:
Retail traders as usual created long positions opposite to FIIs, by buying 11700 Index Future contracts, heavy index calls buying 277973 contracts, stocks call buying 40280 contacts and stocks puts selling -58136 contracts. Few smart retail traders sold stock futures 11037 and hedged their contracts.
Overall, shall we expect high volatility in coming week?
Shall we look for sell on rise opportunities? or
Is market is taking few steps back for bigger move towards all time high?
PLEASE DO SHARE YOUR FEEDBACKS AS WELL AND TRADE SAFELY & CAREFULLY TO AVOID GETTING INTO BULLS TRAP IN CASE OF SHARP BOUNCES.
Have a happy, healthy & profitable day ahead!