BANKNIFTY Pre-analysis:::::::::::: Overall Structure : Sideway Index Components : Neutral Correlation FGI Sentiments : Bullish; Indian 76↑ & Global 64↓ FII /DII Status : Neutral in Cash Market & Derivatives (With Combined OI) Insider Data : Neutral, PCR: 0.96↓, IVP: 0.4↓, IV: 14↓ (LOW); VIX: 13.33↓ (20/27)↓ ↑Upper Level : 43150, 43300, 43450, 43600, 43800. ↓Lower Level : 42900, 42700, 42500, 42300, 42100. Market Opening(*Expected ORB): Flat/Gapup Activity: Long Buildup/Short Buildup Conclusion: From above the nutshell, Showing Derivative data was neutral and sentiment is still bullish . Here Global market indicates negative sign whereas the Asian market shows negative. Observed VIX is continued to drop towards #12 by forming lower top lower button and Bond yield shows neutral too. It's probability of high at 44000 by taking support at 42500.
Have a Happy & Safe Trading! (Data source@21:00 IST)*** ___________________________________ ***Note: Identify the B/S zone, Follow the trend direction with strong confirmation. Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes. Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data. We rigorously tested the strategy and is 88% accurate. This strategy is for knowledge point of view only & is subjected to market risk.