Bank Nifty Levels & Strategy for 02/Nov/2022Dear 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 closed flat & slightly in red. Profit booking at higher level is quite obvious. However, bulls continued to dominate. Today, max OI in call as well as put is at 41500 level. It looks like tomorrow, Bank Nifty is likely to remain sideways ahead of US FED hike & RBI's meeting/hike. US market indices are trading in red ahead of major event.
Overall, market breadth is quite positive. Is tomorrow's trading session, going to offer good opportunity to option writers????? Please find below scorecard and quick update about F&O positions, PCR & India VIX .
BANK NIFTY SCORECARD DATED 01/NOV/2022
BANK NIFTY IS DOWN BY -18 POINTS
Name Price Previous Day Change % Change
Bank Nifty 41290 41308 -18.35 -0.04%
India VIX 16.13 15.80 0.33 2.07%
OPTION STATISTICS BASED ON 03/NOV/2022 EXPIRY DATA
Max OI (Calls) 41500 (Open Interest: 4543275, CE LTP: 195.1)
Max OI (Puts) 41500 (Open Interest: 2162625, PE LTP: 375)
PCR 0.72 (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 Buildup, OTM:Long Liquidation, ITM:Short Buildup, FAR OTM:Short Buildup
