Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is down by -235.5 points. Bank Nifty remained sideways for most of time after initial gap-down & recovery. PCR shifted from 1.54 (overbought zone) to 0.84 (bearish zone). Daily quick swings/sudden changes in OI are making life difficult for option writers.
Highest open interest on call side at 40000 (Shifted down from 41000 to 40000)
Highest open interest on put side at 38000 (Remained at same level)
NIFTY
Nifty is down by -216.5 points. Today, initially Nifty has given chance to bears as well as bulls for making decent profits who worked level by level in disciplined manner. Later, option writers made good money. A perfect day for a trader who understands technical/OI (open interest) changes well. PCR shifted from 1.3 (bullish zone) to 0.89 (bearish zone).
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Remained at same level)
Shall we look for sell on rise opportunities near major resistance levels with strict SL? Or
Shall we look for buy on dips opportunities near major support levels?
Please do share your comments. Have a very happy, healthy & profitable day ahead!
BANK NIFTY
Bank Nifty is down by -235.5 points. Bank Nifty remained sideways for most of time after initial gap-down & recovery. PCR shifted from 1.54 (overbought zone) to 0.84 (bearish zone). Daily quick swings/sudden changes in OI are making life difficult for option writers.
Highest open interest on call side at 40000 (Shifted down from 41000 to 40000)
Highest open interest on put side at 38000 (Remained at same level)
NIFTY
Nifty is down by -216.5 points. Today, initially Nifty has given chance to bears as well as bulls for making decent profits who worked level by level in disciplined manner. Later, option writers made good money. A perfect day for a trader who understands technical/OI (open interest) changes well. PCR shifted from 1.3 (bullish zone) to 0.89 (bearish zone).
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Remained at same level)
Shall we look for sell on rise opportunities near major resistance levels with strict SL? Or
Shall we look for buy on dips opportunities near major support levels?
Please do share your comments. Have a very happy, healthy & profitable day ahead!