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Bank Nifty Levels & Strategy for 07/Dec/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: Options data indicating mild bearishness ahead of RBI policy. Smart money/big players have added plenty of new bearish positions. USA market are already nervous ahead of another rate in next week. Tomorrow, we can expect a sideway move ahead of RBI policy. Post RBI policy market direction will be dependent on rate hike & commentary by RBI regarding inflation & growth outlook. Red Flags to keep in mind for coming days: 1.RBI meeting is going on. Reserve Bank of India (RBI) is likely to go ahead with another rate hike approx. 0.35% on Dec-07 2.USA Fed meeting (next week). Another rate hike of 0.75% is likely to happen. 3.Gujrat results on Dec-08. Exit-poll results looking good for market Is volatility likely to grow in coming days????? Please trade carefully with hedged positions (overnight)/strict SL (intraday) Please find below scorecard, PCR update & options statistics for your reference: BANK NIFTY SCORECARD DATED 06/DEC/2022 BANK NIFTY IS DOWN BY -194 POINTS Name Price Previous Day Change % Change Bank Nifty 43139 43333 -194.40 -0.45% India VIX 14.04 13.73 0.31 2.26% OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA Max OI (Calls) 43200 (Open Interest: 2962250, CE LTP: 235.15) Max OI (Puts) 43000 (Open Interest: 3863625, PE LTP: 111.2) PCR 0.78 (PCR is in bearish zone) Bank Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Short covering, OTM:Long Liquidation, ITM:Short covering, FAR OTM:Long Liquidation
NSE:BANKNIFTY
by manishmgupta
Nifty Bank Levels & Strategy for 06/Dec/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: Options data indicating mild bullishness. Smart money/big players are adding bullish positions. However, as a retail investor, we should continue to book profit near new lifetime high & wait for good trade setup/good buy on dips opportunities. Red Flags to keep in mind for coming days: 1.Today, RBI meeting started. Reserve Bank of India (RBI) is likely to go ahead with another rate hike (approx. 0.25%) on Dec-07 then what will happen in banking stocks????? 2.USA Fed meeting (next week). Another rate hike of 0.75% is likely to happen. 3.Gujrat results on Dec-08. Exit-poll stuff started today evening. Is volatility likely to grow in coming days????? Please trade carefully with hedged positions (overnight)/strict SL (intraday) Please find below scorecard, PCR update & options statistics for your reference: BANK NIFTY SCORECARD DATED 05/DEC/2022 BANK NIFTY IS UP BY 229 POINTS Name Price Previous Day Change % Change Bank Nifty 43333 43104 229.20 0.53% India VIX 13.73 13.45 0.28 2.10% OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA Max OI (Calls) 43500 (Open Interest: 2402925, CE LTP: 162.15) Max OI (Puts) 43000 (Open Interest: 3428300, PE LTP: 109.2) PCR 1.08 (PCR is in buying Zone) Bank Nifty Calls: ATM: Long Buildup, OTM:Long Buildup, ITM:Short covering, FAR OTM:Long Buildup Bank Nifty Puts: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
NSE:BANKNIFTY
by manishmgupta
Will Nifty rally continues? Inverse Head and shoulders found.Don't forget to check out the chart analysis posted a few hours ago. Here I'm assuming with 15 minute time frame, that would give more clarification for a short-term upside potential or a retest possibilities to the all-time high area. As you can see from the chart, Nifty has formed an inverse head and shoulders pattern today. If Nifty can break the neck level or a gap-up above the neck line is considered as a bullish signal. But how long can we get a safe target? As with the head and shoulders pattern rules, you can adjust your target calculation using the length between the head and neck level. But surprisingly, this assumption also confirms further strong resistance levels are (18850-18900) area, I mentioned in the previous post. Moreover, the chart you are seeing now is of Nifty Indices, but in December future chart you cannot see this head and shoulder pattern, instead it is seen as an ascending channel, so the possibility of a downtrend is very high.
NSE:NIFTYShort
by DeepuPrabhakarTrade
Will Nifty rally continues? Is Nifty 20000 possible this year? Hi, as per my previous post our primary target was hit today and nifty showing upward pressure after going down to 38%. Will it rise further? Yes! Of course it can retest the previous day's high, exactly 78% of the Fibonacci ratio from the low created today. According to Elliott 5 wave movements, this can be the first phase of the 5th wave of the trend that started from November 10. But if you want to confirm it, it should goes up from the current all time high. There is a possibility that the market will come down from the resistance levels marked above between 18800 and 18900. If Nifty falls from that zone short positions can be taken for a few days. Also, if Nifty fails to hold above 18500 level, then our second target will soon become possible in this scenario. Please understand that nothing I tell you about market potential is a 100% guarantee.
NSE:NIFTY
by DeepuPrabhakarTrade
NIFTY FINANCIAL SERVICES DETAILED ANALYSIS. FUTURE TREND!!I have drawn many things in this idea, stay with me till the end, and I will clear you. first, let me talk about the future trend(because based on that and my prediction I have drawn the rest drawings), the future trend is the dark black line(drawn both support and resistance). the trend is based on the markets getting consolidated and its reaction shown by nifty finserv components. now how is that trend came to surety says the pullbacks drawn by arcs circle and arrows. i have drawn many of them, have a good good at those, those are majorly pullbacks and pullouts. its just that the market was very volatile at that time, like FII SELLING, DII BUYING, interest rates, money incoming etc.. so that made to disturb the trend, but we get to know it by the pull back strategy. now if you looked very carefull you could observe that the last arc drawn is in black, because nifty finserv, did not supported my trend, that actually because major FII selling had come on. like in major stocks like hdfc, icici, bajaj finance. banking stocks and bajaj finance(one to give high returns), sum the nifty finserv about 85%. thats a lot, so mostly nifty finserv is very closely related to bank nifty chart. since bank nifty chart has almost reached its top and making new ATH, this says that nifty fin serv, is at a very discounted, and at any time rally could come in. but this rally could be defined when US markets react positive and FII selling starts coming. and which is already started. DISCOUNTED STOCKS are meant by those which has a good possibility to go up. stocks such as hdfc, kotak, bajaj finance are much in discounted. icici bank has given a good rally, and same acts for SBI. the next part is the brush drawing: i feel that market could be volatile for several days/weeks because nifty50 is a bit overvalued so this could afraid the market to go in a buy side. there could be a clash of buying and selling, mostly giving some doji candles. if such happens, then January of next year, could be a great possibility to give a bull rally, in nifty finserv components. although this volatile theory could go wrong if market directly sees an upmove, instead of waiting much. to add on as a final point, markets where volatile at the time from AUG- OCT, after a bull rally came in. such case could be possible but this volatile market could be a small one, since many things have been formulated, and bad things(like global conditions, no need to mention it) are coming to an end. the price action and following trends is the best thing. mark some good levels in your chart, and check the trend, based on that start taking positions.
NSE:CNXFINANCELong
by raghavchoudhary2016
Nifty Bank Levels & Strategy for 05/Dec/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: Options data indicating mild weakness. FIIs are super bearish & Retail traders are super bullish. Retail traders should be trading carefully near lifetime high levels & hedge their overnight positions. Wait patiently & trade only good quality trade setup with decent R:R. Please find below BANK NIFTY scorecard, PCR update & options statistics for your reference: BANK NIFTY SCORECARD DATED 02/DEC/2022 BANK NIFTY IS DOWN BY -157 POINTS Name Price Previous Day Change % Change Bank Nifty 43104 43261 -156.90 -0.36% India VIX 13.45 13.36 0.09 0.67% OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA Max OI (Calls) 43000 (Open Interest: 3056650, CE LTP: 333) Max OI (Puts) 43000 (Open Interest: 2718500, PE LTP: 191) PCR 0.71 (PCR is in bearish zone) Bank Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Long Buildup, OTM:Short Buildup, ITM:Long Buildup, FAR OTM:Short Buildup
NSE:BANKNIFTY
by manishmgupta
7
Nifty in Downtrend what NEXT?Nifty is continuing the trend, but what happens now? Remember that it is only a correction, this movement can be considered as a correction part of the trend that started from September 30 so far. According to the Elliott wave, if the current correction is falling up to 38% to 68%, then it can be considered as the 4th wave correction of the five wave movement that start from the Sep 30. This is the golden ration you get when you mark the third wave from the 2nd wave using the Fibonacci tool. The big yellow box on the chart is the area where we have the last movement of the 4th wave. However, big buyers are currently seen playing in the 18300 and 19000 areas. So, we can find another small 5 wave movement started around November 10th. If this down movement is a 4th correction wave of the November 10th, it will not go below 18580 and start its upward journey from above 18580. You can find the retracement area is the small yellow box on the chart. In that case, the third wave of September 30 is not over yet, and a major downtrend can be expected at any time. .
NSE:NIFTYShort
by DeepuPrabhakarTrade
Bank Nifty Levels & Option Data for 02/Dec/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. Please find below BANK NIFTY scorecard, PCR update & options statistics for your reference: BANK NIFTY SCORECARD DATED 01/DEC/2022 BANK NIFTY IS UP BY 30 POINTS Name Price Previous Day Change % Change Bank Nifty 43261 43231 29.65 0.07% India VIX 13.36 13.81 -0.45 -3.24% OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA Max OI (Calls) 43500 (Open Interest: 1701500, CE LTP: 200) Max OI (Puts) 43000 (Open Interest: 1289625, PE LTP: 189) PCR 0.8 (PCR is in bearish 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
NSE:BANKNIFTY
by manishmgupta
Bank Nifty Levels & Strategy for 01/Dec/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 Every dip is getting bought from last few weeks. Levels are marked on chart & strategy is simple i.e. buy on dips till uptrend is intact & continue to book profit near lifetime high. Today, US market is trading in red & SGX Nifty is trading in red & 100+ points down. Tomorrow morning, gap-down should be a buying opportunity with strict SL. Put premium are very low so we should avoid PE writing. Get into short trade only when support levels are broken convincingly. Please find below scorecard, PCR update & options statistics for your reference: BANK NIFTY SCORECARD DATED 30/NOV/2022 BANK NIFTY IS UP BY 178 POINTS Name Price Previous Day Change % Change Bank Nifty 43231 43053 177.55 0.41% India VIX 13.81 13.62 0.19 1.41% OPTION STATISTICS BASED ON 01/DEC/2022 EXPIRY DATA Max OI (Calls) 44000 (Open Interest: 4515025, CE LTP: 6.1) Max OI (Puts) 43000 (Open Interest: 4237425, PE LTP: 38) PCR 1.01 (PCR is in sideways zone) Bank Nifty Calls: ATM: Short covering, OTM:Short Buildup, ITM:Short covering, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
NSE:BANKNIFTY
by manishmgupta
2
Bank Nifty Levels & Strategy for 29/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 Once gap-down was bought instantly amid global issues which is buying indication buying euphoria. Later Bank Nifty moved up but failed to cross previous day high/lifetime high. Profit booking at higher level forced Bank Nifty to closed flat. Shorts are build up in ATM/OTM/ ITM calls & puts except long liquidation in puts which show mild bearishness. Who is making money????? As usual, option writers are really making good money. Avoid buying euphoria amid ongoing global issues, retails traders should continue wait patiently for good trade setup for identifying buying/selling opportunities. Retail traders must hedge their overnight positions. Please find below scorecard, PCR update & options statistics for your reference: BANK NIFTY SCORECARD DATED 28/NOV/2022 BANK NIFTY IS UP BY 37 POINTS Name Price Previous Day Change % Change Bank Nifty 43020 42984 36.50 0.08% India VIX 13.57 13.33 0.23 1.74% OPTION STATISTICS BASED ON 01/DEC/2022 EXPIRY DATA Max OI (Calls) 43000 (Open Interest: 5644175, CE LTP: 222.7) Max OI (Puts) 43000 (Open Interest: 4493450, PE LTP: 187.6) PCR 0.84 (PCR is in bearish 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:Long Liquidation, FAR OTM:Short Buildup
NSE:BANKNIFTY
by manishmgupta
Nifty 50 Price action today Friday 18/11/2022We have seen very volatile expiry. Buyers had shown their confidants well. But the triple pattern break was in a down trend. Now wave 5 and wave 3 have been confirmed. As you are seeing a big correction wave after 5 wave finish. And also a 5 wave down trend pattern in itself can be seen on the chart. 18200 -18230 range is likely to have a retracement. It is the fourth correlation wave to small retracement of the 5 wave downtrend. Anyway lets wait for the next impulse wave which is 5th wave of 4hr time frame, as i said the 3rd impulse also we confirmed yesterday. As per the wave pattern this downtrend is valid whenever nifty holding its price range above 17500. However Nifty is very confident of not going below 17900.
NSE:NIFTY
by DeepuPrabhakarTrade
Bank Nifty Levels & Strategy for 18/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 has again hit new lifetime high. Big players are managing index at higher levels and profit booking is going on in stock & also at higher level in indices. Big players have turned neutral and option writers are making good money. Option buyers should stay away and get into trade only when volatility rises and market picks-up the momentum. Please find below scorecard, PCR update & options statistics for your reference: BANK NIFTY SCORECARD DATED 17/NOV/2022 BANK NIFTY IS DOWN BY -77 POINTS Name Price Previous Day Change % Change Bank Nifty 42458 42535 -77.25 -0.18% India VIX 14.88 15.10 -0.22 -1.47% OPTION STATISTICS BASED ON 24/NOV/2022 EXPIRY DATA Max OI (Calls) 42500 (Open Interest: 1760750, CE LTP: 335.05) Max OI (Puts) 42000 (Open Interest: 1675700, PE LTP: 163) PCR 1 (PCR is in sideways zone ) Bank Nifty Calls: ATM: Short Buildup, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Short Buildup Bank Nifty Puts: ATM: Short Buildup, OTM:Short Buildup, ITM:Long Buildup, FAR OTM:Short Buildup
NSE:BANKNIFTY
by manishmgupta