Bank Nifty Levels & Strategy for 07/Dec/2022
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Bank Nifty: Options data indicating mild bearishness ahead of RBI policy. Smart money/big players have added plenty of new bearish positions. USA market are already nervous ahead of another rate in next week. Tomorrow, we can expect a sideway move ahead of RBI policy. Post RBI policy market direction will be dependent on rate hike & commentary by RBI regarding inflation & growth outlook.
Red Flags to keep in mind for coming days:
1.RBI meeting is going on. Reserve Bank of India (RBI) is likely to go ahead with another rate hike approx. 0.35% on Dec-07
2.USA Fed meeting (next week). Another rate hike of 0.75% is likely to happen.
3.Gujrat results on Dec-08. Exit-poll results looking good for market
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 06/DEC/2022
BANK NIFTY IS DOWN BY -194 POINTS
Name Price Previous Day Change % Change
Bank Nifty 43139 43333 -194.40 -0.45%
India VIX 14.04 13.73 0.31 2.26%
OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA
Max OI (Calls) 43200 (Open Interest: 2962250, CE LTP: 235.15)
Max OI (Puts) 43000 (Open Interest: 3863625, PE LTP: 111.2)
PCR 0.78 (PCR is in bearish zone)
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Short covering, OTM:Long Liquidation, ITM:Short covering, FAR OTM:Long Liquidation
Bank Nifty: Options data indicating mild bearishness ahead of RBI policy. Smart money/big players have added plenty of new bearish positions. USA market are already nervous ahead of another rate in next week. Tomorrow, we can expect a sideway move ahead of RBI policy. Post RBI policy market direction will be dependent on rate hike & commentary by RBI regarding inflation & growth outlook.
Red Flags to keep in mind for coming days:
1.RBI meeting is going on. Reserve Bank of India (RBI) is likely to go ahead with another rate hike approx. 0.35% on Dec-07
2.USA Fed meeting (next week). Another rate hike of 0.75% is likely to happen.
3.Gujrat results on Dec-08. Exit-poll results looking good for market
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 06/DEC/2022
BANK NIFTY IS DOWN BY -194 POINTS
Name Price Previous Day Change % Change
Bank Nifty 43139 43333 -194.40 -0.45%
India VIX 14.04 13.73 0.31 2.26%
OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA
Max OI (Calls) 43200 (Open Interest: 2962250, CE LTP: 235.15)
Max OI (Puts) 43000 (Open Interest: 3863625, PE LTP: 111.2)
PCR 0.78 (PCR is in bearish zone)
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Short covering, OTM:Long Liquidation, ITM:Short covering, FAR OTM:Long Liquidation
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