Bank Nifty Levels & Strategy for 04/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 offered opportunities to bears as well as bulls. US Fed meeting impact was absorbed in few mins by bulls and they have pushed it to higher levels. Today, bullish move was quite good for retail traders. Big players were bearish and again brought Bank Nifty down. Indian markets are nicely coupled with US market. Next move should be based on US market. Hoping, RBI may not play the spoiling sport in coming days. RBI may sell USD or increase rate to keep rupee dollar equation checked. Indian market is performing well and weakness is imported from the overseas. Retail traders should continue to book profit near lifetime high & enjoy the daily volatility. Please find below scorecard and quick update about F&O positions, PCR & India VIX .
BANK NIFTY SCORECARD DATED 03/NOV/2022
BANK NIFTY IS UP BY 152 POINTS
Name Price Previous Day Change % Change
Bank Nifty 41298 41147 151.70 0.37%
India VIX 15.94 16.66 -0.72 -4.32%
OPTION STATISTICS BASED ON 10/NOV/2022 EXPIRY DATA
Max OI (Calls) 41500 (Open Interest: 1606025, CE LTP: 359)
Max OI (Puts) 40500 (Open Interest: 1192075, PE LTP: 132.55)
PCR 0.99 (PCR is in sideways zone )
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Long 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 offered opportunities to bears as well as bulls. US Fed meeting impact was absorbed in few mins by bulls and they have pushed it to higher levels. Today, bullish move was quite good for retail traders. Big players were bearish and again brought Bank Nifty down. Indian markets are nicely coupled with US market. Next move should be based on US market. Hoping, RBI may not play the spoiling sport in coming days. RBI may sell USD or increase rate to keep rupee dollar equation checked. Indian market is performing well and weakness is imported from the overseas. Retail traders should continue to book profit near lifetime high & enjoy the daily volatility. Please find below scorecard and quick update about F&O positions, PCR & India VIX .
BANK NIFTY SCORECARD DATED 03/NOV/2022
BANK NIFTY IS UP BY 152 POINTS
Name Price Previous Day Change % Change
Bank Nifty 41298 41147 151.70 0.37%
India VIX 15.94 16.66 -0.72 -4.32%
OPTION STATISTICS BASED ON 10/NOV/2022 EXPIRY DATA
Max OI (Calls) 41500 (Open Interest: 1606025, CE LTP: 359)
Max OI (Puts) 40500 (Open Interest: 1192075, PE LTP: 132.55)
PCR 0.99 (PCR is in sideways zone )
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Long 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 03/Nov/2022FIIs: Bullish in Cash & Bearish in F&O
FIIs have BOUGHT in cash market for 678 Crores and BOUGHT in derivatives market for 5741 Crores. FIIs continued to maintain their bearish stance.
FIIs have heavily added new bearish positions in index future, stock future, stock call & stock put options. They did PL booking in long as well as short positions in index call & index put options.
FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:-0.49L, INDEX CALL LONG:-1.83L, INDEX CALL SHORT:-1.34L
INDEX PUT CHANGE OI:-0.66L, INDEX PUT LONG:-1.57L, INDEX PUT SHORT:-0.91L
FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:1.82L, INDEX CALL LONG:3.53L, INDEX CALL SHORT:1.71L
INDEX PUT NET OUTSTANDING OI:2.16L, INDEX PUT LONG:4.16L, INDEX PUT SHORT:2L
DIIs: Highly Bearish in Cash & F&O
DIIs SOLD in cash market for -732 Crores. DIIs have continued to add new bearish positions in stock future, index put & stock call options. DIIs have done PL booking & reduced the long as well short contracts in index futures.
Pro Traders: Bearish
Pro traders have added new bullish positions in index future & bearish positions in stock future, stock call & stock put options. They did PL booking in long as well as short positions in index call & index put options.
Retail Traders: Highly Bullish
Retail traders have heavily added new bullish position in index future, stock future, stock call & stock put options. They did PL booking in index call & index put options.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.