Bank Nifty Levels & Strategy for 11/Oct/2022

Oct 10, 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 closed almost flat (-85 points) in red zone. We are nicely coupled with US market. Best part is extent of fall in Indian market is low compare to US & global markets. Today, Indian market has absorbed the selling in US market and again shown tremendous strength. Today morning, gap-down was a known event for everyone after DOW JONES & Nasdaq were down significantly on Friday.

Today also FIIs continued with their selling in cash as well as F&O segments. DIIs & HNIs buying helped recovery from not only from day's low but also crossed yesterday's high. Volatility continued today and market offered opportunities to bulls after gap-down, bears at yesterday's high and professional traders option writers. Working level by level was profitable.

Shall we continue with sell on rise near resistance levels and buy on dips near support levels????? Yes, I think so. What do you think?????

BANK NIFTY SCORECARD DATED 10/OCT/2022
BANK NIFTY IS DOWN BY -85 POINTS
Name Price Previous Day Change % Change
Bank Nifty 39093 39178 -84.95 -0.22%
India VIX 19.62 18.81 0.81 4.31%

OPTION STATISTICS BASED ON 13/OCT/2022 EXPIRY DATA
Max OI (Calls) 41000 (Open Interest: 2521400, CE LTP: 16.5)
Max OI (Puts) 37000 (Open Interest: 2156375, PE LTP: 8.4)
PCR 1 (PCR is in sideways 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

Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!

Oct 10, 2022

Note

FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 10/Oct/2022

FIIs: Highly Bearish in Cash & F&O
FIIs have sold in cash market for -2139 Crores and bought in derivatives market for 5645 Crores.

FIIs have heavily added bearish positions in index futures (-15440), stock futures (-38394), index put (72137) and stock put options. Added bullish positions in index call (30898) & stock call options.

FIIs Net Open Interest in Index options as on 13/Oct/2022
Bullish Positions: Net Calls Qty: 1.33L, Long CE: 4.26L, Short CE: 2.92L
Bearish Positions: Net Puts Qty: 3.21L, Long PE: 6.04L, Short PE: 2.83L

DIIs: Bullish in cash & Bearish in F&O
DIIs bought in cash market for 2137 Crores. DIIs have added bearish positions in index future (-6003) & stock call (-6517) option contracts. DIIs did profit booking & reduced the positions in stock future & stock put option contracts.

Pro Traders: Mild Bearish
Pro traders have added bullish positions in index futures (9545), stock future (19660) & index put (150810) option contracts. They have added bearish positions in index call (-247877), stock call (-29424) & stock put (6308) option contracts.

Retail Traders: Highly Bullish
Retail traders have heavily added bullish positions in index future (11898), stock future (14798), index call (216979), stock call (35588) & stock put option contracts. They have added bearish positions in only index put (78765) option contracts.

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.