Nifty Bank Levels & Strategy for 05/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 weakness. FIIs are super bearish & Retail traders are super bullish. Retail traders should be trading carefully near lifetime high levels & hedge their overnight positions. Wait patiently & trade only good quality trade setup with decent R:R.

Please find below BANK NIFTY scorecard, PCR update & options statistics for your reference:

BANK NIFTY SCORECARD DATED 02/DEC/2022
BANK NIFTY IS DOWN BY -157 POINTS
Name Price Previous Day Change % Change
Bank Nifty 43104 43261 -156.90 -0.36%
India VIX 13.45 13.36 0.09 0.67%

OPTION STATISTICS BASED ON 08/DEC/2022 EXPIRY DATA
Max OI (Calls) 43000 (Open Interest: 3056650, CE LTP: 333)
Max OI (Puts) 43000 (Open Interest: 2718500, PE LTP: 191)
PCR 0.71 (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: Long Buildup, OTM:Short Buildup, ITM:Long Buildup, FAR OTM:Short Buildup

Note

FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 02/Dec/2022

FIIs: Bullish in Cash & Super Bearish in F&O
FIIs have BOUGHT in cash market for 5446 Crores and SOLD in derivatives market for -7115 Crores. FIIs have added new bearish positions in index future, stock future, index call, index put, stock call & stock put. They did PL booking in only bullish/long contracts of index future & stock future. Are FIIs expecting a profit booking/dip near lifetime high?????

FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:-0.73L, INDEX CALL LONG:-1.37L, INDEX CALL SHORT:-0.64L
INDEX PUT CHANGE OI:0.54L, INDEX PUT LONG:-1.81L, INDEX PUT SHORT:-2.35L

FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:1.98L, INDEX CALL LONG:4.25L, INDEX CALL SHORT:2.28L
INDEX PUT NET OUTSTANDING OI:1.64L, INDEX PUT LONG:4.47L, INDEX PUT SHORT:2.83L

DIIs: Bullish in Cash & Highly Bearish in F&O
DIIs BOUGHT in cash market for 712 Crores. DIIs have added new bearish positions in stock future, index put & stock call (CE writing) options. They did minor PL booking in stock future (long) & index future (short) contracts.

Pro Traders: Bullish
Pro traders have heavily added new bearish positions in index call (CE writing), index put (PE buying), stock call (CE writing) & stock put (PE buying). They have added relatively lower numbers of bullish contracts in index future & stock future.

Retail Traders: Super Bullish
Retail traders have heavily added new bullish positions in index future, stock future, index call, index put (PE writing), stock call & stock put (PE writing). Retails traders need to be very careful near lifetime high levels & hedge their long positions without fail to avoid getting trapped.

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.

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.

manishmgupta

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