Bank Nifty Levels & Strategy for 28/Nov/2022
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
Profit booking near lifetime high pushed Bank Nifty in red. Shorts are build up in ATM/OTM/ITM calls as well as puts which is indicating sideways move. Retails traders should wait patiently for range breakout/short covering in either direction. Important Note: Big players are short on index & retails traders are highly bullish. We must hedge our positions without fail to handle any surprise move. Please find below scorecard, PCR update & options statistics for your reference:
BANK NIFTY SCORECARD DATED 25/NOV/2022
BANK NIFTY IS DOWN BY -91 POINTS
Name Price Previous Day Change % Change
Bank Nifty 42984 43075 -91.45 -0.21%
India VIX 13.33 13.48 -0.14 -1.08%
OPTION STATISTICS BASED ON 01/DEC/2022 EXPIRY DATA
Max OI (Calls) 43000 (Open Interest: 4563025, CE LTP: 269)
Max OI (Puts) 43000 (Open Interest: 3078775, PE LTP: 206.6)
PCR 0.8 (PCR is in bearish zone)
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
BANK NIFTY
Profit booking near lifetime high pushed Bank Nifty in red. Shorts are build up in ATM/OTM/ITM calls as well as puts which is indicating sideways move. Retails traders should wait patiently for range breakout/short covering in either direction. Important Note: Big players are short on index & retails traders are highly bullish. We must hedge our positions without fail to handle any surprise move. Please find below scorecard, PCR update & options statistics for your reference:
BANK NIFTY SCORECARD DATED 25/NOV/2022
BANK NIFTY IS DOWN BY -91 POINTS
Name Price Previous Day Change % Change
Bank Nifty 42984 43075 -91.45 -0.21%
India VIX 13.33 13.48 -0.14 -1.08%
OPTION STATISTICS BASED ON 01/DEC/2022 EXPIRY DATA
Max OI (Calls) 43000 (Open Interest: 4563025, CE LTP: 269)
Max OI (Puts) 43000 (Open Interest: 3078775, PE LTP: 206.6)
PCR 0.8 (PCR is in bearish zone)
Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
FIIs: Bullish in Cash & Bearish in F&O
FIIs have BOGHT in cash market for 369 Crores and BOUGHT in derivatives market for 4825 Crores. FIIs have added new bearish positions in index future, index put, stock call & stock put options. They have added bullish positions in stock future & index call options.
FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:0L, INDEX CALL LONG:1.86L, INDEX CALL SHORT:1.85L
INDEX PUT CHANGE OI:0.58L, INDEX PUT LONG:0.96L, INDEX PUT SHORT:0.37L
FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:1.9L, INDEX CALL LONG:5.51L, INDEX CALL SHORT:3.61L
INDEX PUT NET OUTSTANDING OI:1.65L, INDEX PUT LONG:4.95L, INDEX PUT SHORT:3.31L
DIIs: Bearish in Cash & F&O
DIIs SOLD in cash market for -296 Crores. DIIs have added new bearish positions in stock future, index put & stock call options. They have added new bullish positions in index future.
Pro Traders: Highly Bearish
Pro traders have added new bearish positions in stock future, index call, index put, stock call & stock put options. They did PL booking in long & short contracts of index future.
Retail Traders: Highly Bullish
Retail traders have added bullish positions in index future, index call, index put, stock future, stock call & stock put options. All big players are bearish & retail traders are super bullish. Retail traders must hedge their overnight positions without fail.
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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.