Bank Nifty Levels & Strategy for 10/Nov/2022

Nov 9, 2022

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.

BANK NIFTY
As expected, Bank Nifty hit the new lifetime high. We have observed good strength in Bank Nifty at higher level, however it's good to see profit booking by trader at new lifetime high. Big players are buying in cash & adding bearish positions in F&O. Call writing as well as put writing strategy at higher level & lower level is working well. Option buyers are getting trapped in both the directions. Review, call & put option data as mentioned below to get better idea.

BANK NIFTY SCORECARD DATED 09/NOV/2022
BANK NIFTY IS UP BY 97 POINTS
Name Price Previous Day Change % Change
Bank Nifty 41783 41687 96.50 0.23%
India VIX 15.92 15.59 0.33 2.12%

OPTION STATISTICS BASED ON 10/NOV/2022 EXPIRY DATA
Max OI (Calls) 42000 (Open Interest: 3007225, CE LTP: 51.05)
Max OI (Puts) 41500 (Open Interest: 2591175, PE LTP: 73)
PCR 1.09 (PCR is in buying 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:Short Buildup, FAR OTM:Short Buildup

Nov 9, 2022

Note

FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 09/Nov/2022

FIIs: Bullish in Cash & Bearish in F&O
FIIs have BOUGHT in cash market for 387 Crores and BOUGHT in derivatives market for 4560 Crores. Please review OI summary clearly. FIIs have buying figures in F&O for adding bearish positions.

FIIs have added new bearish positions in index call, index put, stock call & stock future contracts. They have added bullish positions in index future & stock put option contracts.

FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:-0.19L, INDEX CALL LONG:0.72L, INDEX CALL SHORT:0.91L
INDEX PUT CHANGE OI:0.63L, INDEX PUT LONG:0.71L, INDEX PUT SHORT:0.08L

FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:2.14L, INDEX CALL LONG:6.2L, INDEX CALL SHORT:4.06L
INDEX PUT NET OUTSTANDING OI:3.17L, INDEX PUT LONG:6.26L, INDEX PUT SHORT:3.09L

DIIs: Bearish in Cash & F&O
DIIs SOLD in cash market for -1060 Crores. DIIs have continued to add new bearish positions in index put and stock call options. Today, they have added bullish positions in stock futures.

Pro Traders: Bearish
Pro traders have added new bearish positions in index future, index call, stock call & stock put options. They have added new bullish positions in index put options & added negligible bullish positions in stock futures.

Retail Traders: Highly Bullish
Retail traders have heavily added bullish position in index call, index put, stock call & stock put options. They have added bearish positions in index futures & stock futures.

Please do review, analyse and share your comments as well. Many thanks for following me on twitter, liking my analysis & retweet. Let us work and win together. Wish you a very happy, healthy & profitable trading day ahead!

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.