Bank Nifty Levels & Strategy for 07/Nov/2022
Updated
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
Bank Nifty performed as expected & respected the major resistance & support levels. Market volatility is offering opportunities to bulls as well as bears almost on daily basis. Today, option writers also got rewarded. Option writers always have edge and theta decay goes in favor of option writers. Today, US markets are also trading flat. We should expect a trending move in next few days till then enjoy the volatility and trade in both the directions with strict SL and maximise profit using TSL.
Please note that FIIs/Big players are continuously adding bearish positions in F&O segment so retail traders should trade carefully & continue to book profit at higher levels and hedge their positions/portfolio to avoid any surprises in coming days. Please find below scorecard and quick update about F&O positions, PCR & India VIX .
BANK NIFTY SCORECARD DATED 04/NOV/2022
BANK NIFTY IS DOWN BY -40 POINTS
Name Price Previous Day Change % Change
Bank Nifty 41258 41298 -39.90 -0.10%
India VIX 15.66 15.94 -0.29 -1.80%
OPTION STATISTICS BASED ON 10/NOV/2022 EXPIRY DATA
Max OI (Calls) 41500 (Open Interest: 2694825, CE LTP: 272)
Max OI (Puts) 41000 (Open Interest: 1774125, PE LTP: 195)
PCR 0.85 (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
BANK NIFTY
Bank Nifty performed as expected & respected the major resistance & support levels. Market volatility is offering opportunities to bulls as well as bears almost on daily basis. Today, option writers also got rewarded. Option writers always have edge and theta decay goes in favor of option writers. Today, US markets are also trading flat. We should expect a trending move in next few days till then enjoy the volatility and trade in both the directions with strict SL and maximise profit using TSL.
Please note that FIIs/Big players are continuously adding bearish positions in F&O segment so retail traders should trade carefully & continue to book profit at higher levels and hedge their positions/portfolio to avoid any surprises in coming days. Please find below scorecard and quick update about F&O positions, PCR & India VIX .
BANK NIFTY SCORECARD DATED 04/NOV/2022
BANK NIFTY IS DOWN BY -40 POINTS
Name Price Previous Day Change % Change
Bank Nifty 41258 41298 -39.90 -0.10%
India VIX 15.66 15.94 -0.29 -1.80%
OPTION STATISTICS BASED ON 10/NOV/2022 EXPIRY DATA
Max OI (Calls) 41500 (Open Interest: 2694825, CE LTP: 272)
Max OI (Puts) 41000 (Open Interest: 1774125, PE LTP: 195)
PCR 0.85 (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
Note
FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 04/Nov/2022FIIs: Bullish in Cash & Bearish in F&O
FIIs have BOUGHT in cash market for 1436 Crores and BOUGHT in derivatives market for 9213 Crores. FIIs continued to maintain their bearish stance in F&O.
FIIs have heavily added new bearish positions in index future, stock future, index put, stock call & stock put options. They have added bullish positions in index call options.
FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:0.54L, INDEX CALL LONG:2.2L, INDEX CALL SHORT:1.66L
INDEX PUT CHANGE OI:0.4L, INDEX PUT LONG:1.47L, INDEX PUT SHORT:1.07L
FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:2.37L, INDEX CALL LONG:5.73L, INDEX CALL SHORT:3.37L
INDEX PUT NET OUTSTANDING OI:2.56L, INDEX PUT LONG:5.62L, INDEX PUT SHORT:3.06L
DIIs: Bearish in Cash & F&O
DIIs SOLD in cash market for -549 Crores. DIIs have continued to add new bearish positions in stock future & stock call options. DIIs have done PL booking & reduced the long contracts in index futures.
Pro Traders: Bearish
Pro traders have added new bearish positions in index future, stock future, index call, stock call & stock put options. They have added bullish positions in index put options.
Retail Traders: Highly Bullish
Retail traders have heavily added bullish position in index future, stock future, index put & stock call options. They have added bearish positions in index call and stock put options.
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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.
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