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Bank Nifty Levels & Strategy for 11/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 Today, once again we have seen both types of trades in Bank Nifty. Bank Nifty open in red, touched the major support level and finally offered decent recovery from lower levels. Pressure at higher level near lifetime is quite evident. Traders should continue to book profit at higher levels and hedge their overnight positions to protect their capital. Please find below Bank Nifty scorecard for more details about short & long positions in options. BANK NIFTY SCORECARD DATED 10/NOV/2022 BANK NIFTY IS DOWN BY -179 POINTS Name Price Previous Day Change % Change Bank Nifty 41604 41783 -179.45 -0.43% India VIX 15.57 15.92 -0.35 -2.18% OPTION STATISTICS BASED ON 17/NOV/2022 EXPIRY DATA Max OI (Calls) 41500 (Open Interest: 1097450, CE LTP: 473) Max OI (Puts) 41500 (Open Interest: 1068775, PE LTP: 292.9) 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:Short covering, FAR OTM:Short Buildup
NSE:BANKNIFTY
by manishmgupta
Bank Nifty Levels & Strategy for 09/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 Nifty opened with a gap-up . Immediately profit booking brought it down. Later, Bank Nifty recovered nicely from day's low and closed near day's high. This clearly indicates profit booking at higher levels and buying interest near support levels. Every dip is getting bought from past few weeks and profit booking is obvious near lifetime high. Bank Nifty consolidated nicely at higher levels within 500 points for more than a week. Now, Bank Nifty is all set to touch new lifetime highs. It will be interesting to check whether Bank Nifty will be able to sustain near new lifetime high amid several global issues. Big players are buying in cash & adding bearish positions in F&O. Retail traders needs to trade very carefully near lifetime high and work level by level with strict SL. US market is trading firmly in green. Let us expect another gap-up tomorrow morning. Option (call) writers are doing quite well after gap-up and put writers near major support levels. Big players are enjoying option theta decay. Retails traders must hedge their overnight positions. BANK NIFTY SCORECARD DATED 07/NOV/2022 BANK NIFTY IS UP BY 428 POINTS Name Price Previous Day Change % Change Bank Nifty 41687 41258 428.25 1.04% India VIX 15.59 15.66 -0.07 -0.45% OPTION STATISTICS BASED ON 10/NOV/2022 EXPIRY DATA Max OI (Calls) 43000 (Open Interest: 2044175, CE LTP: 5.35) Max OI (Puts) 41500 (Open Interest: 2511950, PE LTP: 135) PCR 1.1 (PCR is in buying Zone) Bank Nifty Calls: ATM: Short covering, OTM:Long Buildup, ITM:Short covering, FAR OTM:Long Buildup Bank Nifty Puts: ATM: Short Buildup, OTM:Long Liquidation, ITM:Short Buildup, FAR OTM:Short Buildup
NSE:BANKNIFTY
by manishmgupta