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.
NIFTY
Nifty is up by 174 points. Steller performance by Nifty. PCR shifted up from 0.92 (bearish zone) to 1.17 (bullish zone). Nifty performed beyond expectation and hit all the targets. Option writers also made good money as most of them timely close CE leg and PE writing continued through the trading session. Today we had a very nice trending day and retail traders could make good money based on their huge overnight buy position in F&O contracts. Support Zone in Nifty is shifted up. Resistance Levels became New Support Levels.
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17500 (Shifted up from 17000 to 17500)
BANK NIFTY
Bank Nifty is up by 753 points. Extra ordinary performance by bulls lifted up Bank Nifty beyond the major resistance zone. It will be interesting to watch whether breakout will sustain amid global issues and after ECB hike by 75 to 100 basis points today or it will get back into previous trading range.
Highest open interest on call side at 41000 (Shifted up from 40000 to 41000)
Highest open interest on put side at 39000 (Shifted up from 39000 to 39500)
Will Break out in Nifty sustain amid global issues? Is Nifty getting ready to touch new life time high ?
Shall we continue look for buy on dips opportunities near major support levels?
My view is neutral with positive bias. However let us see how global markets reacts overnight after ECB hike. Please do review & analyze EOD closing data for preparing tomorrow's trade plans.
Please do share your comments. Have a very happy, healthy & profitable day ahead!
NIFTY
Nifty is up by 174 points. Steller performance by Nifty. PCR shifted up from 0.92 (bearish zone) to 1.17 (bullish zone). Nifty performed beyond expectation and hit all the targets. Option writers also made good money as most of them timely close CE leg and PE writing continued through the trading session. Today we had a very nice trending day and retail traders could make good money based on their huge overnight buy position in F&O contracts. Support Zone in Nifty is shifted up. Resistance Levels became New Support Levels.
Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17500 (Shifted up from 17000 to 17500)
BANK NIFTY
Bank Nifty is up by 753 points. Extra ordinary performance by bulls lifted up Bank Nifty beyond the major resistance zone. It will be interesting to watch whether breakout will sustain amid global issues and after ECB hike by 75 to 100 basis points today or it will get back into previous trading range.
Highest open interest on call side at 41000 (Shifted up from 40000 to 41000)
Highest open interest on put side at 39000 (Shifted up from 39000 to 39500)
Will Break out in Nifty sustain amid global issues? Is Nifty getting ready to touch new life time high ?
Shall we continue look for buy on dips opportunities near major support levels?
My view is neutral with positive bias. However let us see how global markets reacts overnight after ECB hike. Please do review & analyze EOD closing data for preparing tomorrow's trade plans.
Please do share your comments. Have a very happy, healthy & profitable day ahead!
FIIs bought in cash market for 2913 Crores and sold in derivatives market for -5053 Crores. FIIs added long index future contract but sold almost 3 times -24399 stock future contracts. FIIs have added short positions in index call, stock call & stock put options. They have reduced index put contracts. Overall, they are maintaining their bearish stance.
DIIs sold in cash market for -212.6 Crores. DIIs added index future & stock future contracts and shorted stock call options. DIIs are neutral.
Pro traders sold index future and stock future contracts. Significantly reduced index call option & index put option contracts. They hedged their short future contracts with stock call & put. Pro traders are also keeping neutral view.
Retail traders have sold index future and bough stock future contracts. Significantly reduced index call option & index put option contracts. Smart traders have hedged their future contracts with stock call & put option contracts. Retail traders are bullish