Bank Nifty Levels & Strategy for 15/Nov/2022Dear 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
Bank Nifty is sideways after hitting new lifetime high. FIIs/Big players have again turned the bearish and retail traders turned super bullish. Profit booking at higher level is going on. Retail traders should trade carefully near lifetime high amid several global issues. Retail traders should hedge their overnight positions without fail to protect their capital.
Please find below scorecard & options statistics. Options data & PCR is indicating sideways action. Big players have written calls as well as puts at every level (ATM, ITM, OTM). Option buyers should get into action only when market pick-up the momentum (breakout or breakdown) else theta decay in options will continue to hurt option buyers.
BANK NIFTY SCORECARD DATED 14/NOV/2022
BANK NIFTY IS DOWN BY -60 POINTS
Name Price Previous Day Change % Change
Bank Nifty 42077 42137 -60.30 -0.14%
India VIX 14.91 14.41 0.51 3.51%
OPTION STATISTICS BASED ON 17/NOV/2022 EXPIRY DATA
Max OI (Calls) 44000 (Open Interest: 2615650, CE LTP: 5.05)
Max OI (Puts) 42000 (Open Interest: 3134725, PE LTP: 200.05)
PCR 1.01 (PCR is in sideways zone)
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
