Bank Nifty Levels & Strategy for 04/Oct/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
Bank Nifty is trading within a range and getting ready for break out or breakdown. Bears as well as bulls are getting decent opportunities who are working level by level and earning well. FIIs were bullish in F&O on Friday and they have lifted the indices to clear their long positions. Today they have added bearish positions and US markets are trading in nice green. We should expect a correction till support level in case of gap-up in Indian market.
BANK NIFTY SCORECARD DATED 03/OCT/2022
BANK NIFTY IS DOWN BY -602 POINTS
Name Price Previous Day Change % Change
Bank Nifty 38030 38632 -602.30 -1.56%
India VIX 21.37 19.97 1.40 7.00%
OPTION STATISTICS BASED ON 06/OCT/2022 EXPIRY DATA
Max OI (Calls) 40000 (Open Interest: 3368950)
Max OI (Puts) 37000 (Open Interest: 1856600)
PCR 0.73 (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 covering, OTM:Short covering, ITM:Long Buildup, FAR OTM:Short covering
Shall we look for buy on dips opportunity at support levels & sell on rise with strict SL at higher levels as long as Bank Nifty is trading within a range? Yes, I think so. What do you think?
Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
BANK NIFTY
Bank Nifty is trading within a range and getting ready for break out or breakdown. Bears as well as bulls are getting decent opportunities who are working level by level and earning well. FIIs were bullish in F&O on Friday and they have lifted the indices to clear their long positions. Today they have added bearish positions and US markets are trading in nice green. We should expect a correction till support level in case of gap-up in Indian market.
BANK NIFTY SCORECARD DATED 03/OCT/2022
BANK NIFTY IS DOWN BY -602 POINTS
Name Price Previous Day Change % Change
Bank Nifty 38030 38632 -602.30 -1.56%
India VIX 21.37 19.97 1.40 7.00%
OPTION STATISTICS BASED ON 06/OCT/2022 EXPIRY DATA
Max OI (Calls) 40000 (Open Interest: 3368950)
Max OI (Puts) 37000 (Open Interest: 1856600)
PCR 0.73 (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 covering, OTM:Short covering, ITM:Long Buildup, FAR OTM:Short covering
Shall we look for buy on dips opportunity at support levels & sell on rise with strict SL at higher levels as long as Bank Nifty is trading within a range? Yes, I think so. What do you think?
Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
FIIs: Bullish in cash & Highly Bearish in F&O
FIIs have bought in cash market for 591 Crores and sold in derivatives market for -1034 Crores. They are showing something in cash and doing exactly opposite in F&O. FIIs have heavily added bearish positions in index futures (-13040), stock futures (-24936), index call (-43560), index put (69301), stock call & stock put option. Today, FIIs have added bearish positions in all types of futures & options contracts. They have flipped their side within a day from bullish to highly bearish.
DIIs: Bearish in cash & Highly Bullish in F&O
DIIs sold in cash market for -423 Crores. Today, DIIs have added bullish positions in index futures (8323) & stock future (14542) contracts. DIIs sold stock call (-6732) options and partially hedged their stock future contracts.
Pro Traders: Bearish
Pro traders have taken bullish positions in index futures (4347) & stock futures (18065) contracts. They have heavily added bearish positions in index call (-158814), index put (105079), stock call (-41607) & stock put (7505) option contracts. Pro traders have fully hedged long future positions and overall sounding bearish.
Retail Traders: Bullish
Retail traders have added bullish positions in index futures (370), index call (202374), index put (-174380), stock call (71931) & stock put (30676) option contracts. They have added bearish positions in stock futures (-7671). Overall, they are highly bullish.
Please do review, analyse and share your comments as well. Many thanks for following me on twitter, liking my analysis & retweet. Let us work and win together. Wish you a very happy, healthy & profitable trading day ahead!
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.