Bank Nifty Levels & Strategy for 22/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 trading still trading a within a range. However, Bank Nifty is continuously closing at higher level from past 10 days which really shows the wonderful strength. Profit booking at higher level is quite obvious. Bank Nifty is slowly getting ready for a trending view. Have a little more patience & simply join the range breakout/breakdown party.

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

BANK NIFTY SCORECARD DATED 21/NOV/2022
BANK NIFTY IS DOWN BY -91 POINTS
Name Price Previous Day Change % Change
Bank Nifty 42347 42437 -90.90 -0.21%
India VIX 14.80 14.39 0.41 2.83%

OPTION STATISTICS BASED ON 24/NOV/2022 EXPIRY DATA
Max OI (Calls) 42500 (Open Interest: 3447025, CE LTP: 157.7)
Max OI (Puts) 42000 (Open Interest: 2166050, PE LTP: 80.6)
PCR 0.97 (PCR is in sideways to mild bearish zone)

Bank Nifty Calls:
ATM: Short Buildup, OTM:Long Liquidation, ITM:Short Buildup, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short covering, FAR OTM:Short Buildup

Note

FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 21/Nov/2022

FIIs: Bearish in Cash & F&O
FIIs have SOLD in cash market for -1594 Crores and SOLD in derivatives market for -1230 Crores. FIIs have added new bearish positions in index call & index put options. They have added bullish positions in stock call. They did PL booking in index future (long & short), stock future (long & future) & stock put (long & short) contracts.

FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:-0.27L, INDEX CALL LONG:0.23L, INDEX CALL SHORT:0.5L
INDEX PUT CHANGE OI:0.18L, INDEX PUT LONG:0.36L, INDEX PUT SHORT:0.18L

FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:1.96L, INDEX CALL LONG:6.31L, INDEX CALL SHORT:4.35L
INDEX PUT NET OUTSTANDING OI:2.99L, INDEX PUT LONG:6.35L, INDEX PUT SHORT:3.36L

DIIs: Highly Bullish in Cash & F&O
DIIs BOUGHT in cash market for 1263 Crores. DIIs have added new bullish positions in stock future & stock call. They did PL booking in index future (short) & index put (long) contracts.

Pro Traders: Bearish
Pro traders have added new bullish positions in index future only. They have added bearish positions in index call & index put options. They did PL booking in index future (short), long & short contracts of stock future, stock call & stock put options.

Retail Traders: Highly Bullish
Retail traders have added new bullish positions in index future, index call & index put. They did PL booking in long as well as short positions of stock future, stock call & stock 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.

manishmgupta

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