Nifty Bank Levels & Strategy for 06/Dec/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: Options data indicating mild bullishness. Smart money/big players are adding bullish positions. However, as a retail investor, we should continue to book profit near new lifetime high & wait for good trade setup/good buy on dips opportunities.
Red Flags to keep in mind for coming days:
1.Today, RBI meeting started. Reserve Bank of India (RBI) is likely to go ahead with another rate hike (approx. 0.25%) on Dec-07 then what will happen in banking stocks?????
2.USA Fed meeting (next week). Another rate hike of 0.75% is likely to happen.
3.Gujrat results on Dec-08. Exit-poll stuff started today evening.
Is volatility likely to grow in coming days????? Please trade carefully with hedged positions (overnight)/strict SL (intraday)
Please find below scorecard, PCR update & options statistics for your reference:
BANK NIFTY SCORECARD DATED 05/DEC/2022
BANK NIFTY IS UP BY 229 POINTS
Name Price Previous Day Change % Change
Bank Nifty 43333 43104 229.20 0.53%
India VIX 13.73 13.45 0.28 2.10%
OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA
Max OI (Calls) 43500 (Open Interest: 2402925, CE LTP: 162.15)
Max OI (Puts) 43000 (Open Interest: 3428300, PE LTP: 109.2)
PCR 1.08 (PCR is in buying Zone)
Bank Nifty Calls:
ATM: Long Buildup, OTM:Long Buildup, ITM:Short covering, FAR OTM:Long Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Bank Nifty: Options data indicating mild bullishness. Smart money/big players are adding bullish positions. However, as a retail investor, we should continue to book profit near new lifetime high & wait for good trade setup/good buy on dips opportunities.
Red Flags to keep in mind for coming days:
1.Today, RBI meeting started. Reserve Bank of India (RBI) is likely to go ahead with another rate hike (approx. 0.25%) on Dec-07 then what will happen in banking stocks?????
2.USA Fed meeting (next week). Another rate hike of 0.75% is likely to happen.
3.Gujrat results on Dec-08. Exit-poll stuff started today evening.
Is volatility likely to grow in coming days????? Please trade carefully with hedged positions (overnight)/strict SL (intraday)
Please find below scorecard, PCR update & options statistics for your reference:
BANK NIFTY SCORECARD DATED 05/DEC/2022
BANK NIFTY IS UP BY 229 POINTS
Name Price Previous Day Change % Change
Bank Nifty 43333 43104 229.20 0.53%
India VIX 13.73 13.45 0.28 2.10%
OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA
Max OI (Calls) 43500 (Open Interest: 2402925, CE LTP: 162.15)
Max OI (Puts) 43000 (Open Interest: 3428300, PE LTP: 109.2)
PCR 1.08 (PCR is in buying Zone)
Bank Nifty Calls:
ATM: Long Buildup, OTM:Long Buildup, ITM:Short covering, FAR OTM:Long 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 05/Dec/2022FIIs: Bearish in Cash & Bullish in F&O
FIIs have SOLD in cash market for -1139 Crores and SOLD in derivatives market for 1634 Crores. FIIs have added new bullish positions in index call & index put options. Added new bearish positions in stock call & stock put options. They did PL booking long & short contracts of index future & stock future.
FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:0.43L, INDEX CALL LONG:0.45L, INDEX CALL SHORT:0.02L
INDEX PUT CHANGE OI:-0.1L, INDEX PUT LONG:0.48L, INDEX PUT SHORT:0.59L
FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:1.68L, INDEX CALL LONG:5.7L, INDEX CALL SHORT:4.02L
INDEX PUT NET OUTSTANDING OI:2.09L, INDEX PUT LONG:5.63L, INDEX PUT SHORT:3.54L
DIIs: Bullish in Cash & Super Bearish in F&O
DIIs BOUGHT in cash market for 2608 Crores. DIIs have added new bearish positions in stock future & stock call options. They did PL booking in long & short contracts of index future.
Pro Traders: Bullish
Pro traders have added new bearish positions in index future, stock call & stock put options. They have added new bullish positions in index call, index put & stock future contracts. Overall bullish.
Retail Traders: Bearish
Retail traders have heavily added new bearish positions in index call (-96K) & index put (110K). They have added bullish positions in index future, stock future, stock call & stock put options. Overall bearish.
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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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