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BANKNIFTY Analysis for 30 June 2023On the daily timeframe, the market has formed a halt candle at the all-time high. Given that on Wednesday it opened with a gap up but couldn't sustain the upward momentum and became volatile, it is likely that a retest may occur. This could result in a sideways movement or a slight negative trend. On the hourly chart, the price didn't close above or below the first-hour candle, indicating indecision and lack of a clear direction. On the 15-minute chart, there's a trendline originating from below, suggesting a potential support level. The key levels to watch are 44513 as resistance and 44337, 44191, and 44041 as support. Notably, the 44000 level has a significant amount of call writing at 62L, and the 44300 level has a substantial straddle of 43L and 49L. Additionally, there is a considerable amount of put selling on the 44200 level at 52L. The 44500 level also has a decent amount of call writing at 43L. Analyzing the options data, it seems mixed. The PCR of 1.33 reading indicates a bearish sentiment. FII have Calls of long position of 5.13L and a short position of 2.54L, while puts have a long position of 6.06L and a short position of 4.2L. The mixed data suggests uncertainty in market sentiment. Considering the overall data and chart analysis, the market appears to be in a sideways phase. However, if it breaks above or below the current range, options buying can be considered accordingly. If no breakout occurs, it might be best to refrain from taking any trades. In conclusion, based on the provided information, it seems prudent to avoid taking a trade tomorrow, as the market shows mixed signals in the options and futures data, while the stock data appears positive.
NSE:BANKNIFTY
by JigarHathiyani
Nifty Bank Future Key Trading levels for 25th OCT 2021Nifty Bank Future Key Trading levels for 25th OCT 2021 Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor before making any trading decision. Leave a comment that is helpful or encouraging. Let's master the markets together.
NSE:BANKNIFTY1!
by sbkurandwad77
Bank Nifty Update for 07th October 2021Bank Nifty Update for 07th October 2021 ============================== Bank NIFTY Swings are very tricky to pick, The Index has given a good correction and invalidated the previous impulse. Now the impulse that we saw in yesterday's trading session should give a correction and from there we’ll set up our trade for today. BANKNIFTY has closed in a no trading zone in the previous trading session. 37,820 to 37,900 is resistance zone, and 37,600-37,650 will act as a support. We may not see a breakout/breakdown of this range today as today is Expiry and there are high chances of range-bound markets, but in case Index breaks the range then we’ll trade according to the Intraday data. Trade Accordingly!
NSE:BANKNIFTY
by CodeViser