BANKNIFTY Pre-analysis:::::::::::: Overall Structure : Sideways Index components : Neutral Correlation FGI Sentiments : Risky; Indian 43↑ & Global 35↓ FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI) Insider Data : Neutral, PCR: 1.05↓, IVP: 12↓, IV: 20↓, VIX: 17.45↓ (31/36)↓ ↑Up : 40500, 40650, 40800, 40900, 41100. ↓Down : 40000, 39800, 39600, 39400, 39200. Market Opening(*Expected): Gapdown Activity: Short Covering/Short Buildup Conclusion: From the above nutshell, Derivative data shows positive(weak) where other components are negative. The Market has taken rejection from 40600 (Correction Channel Point-C). Here, the Call writers are unwinding and put writers are active. There's probability of fall down towards 39800-39500 level. In another scenario, If the market taken huge gapdown, it may turn up towards 40500. Have a Happy & Safe Trading! (Data source@22:00 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 88.6% accurate. This strategy is for knowledge point of view only & is subjected to market