Bank Nifty Levels & Strategy for 01/Dec/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
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
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
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