VIEW ON BANK NIFTY AND NIFTY 27 OCT 2022.

27 OCT 2022 2030 HRS

1. US and Europe is bullish. But they all are reaching crucial 200 SMA.
2. Nikkei has closed above 200 SMA. and kospi is looking positive.
3. India VIX is @16.8 indicating less volatility.
4. Bank nifty may gap open at 41422 due to SGX Nifty indicating 97 points uptick.
5. HDFC twins indicate bearishness and consolidation.
6. ICICI Bank is at all time high and is bullish. AXIS and SBI is also bullish.
7. we can expect a bullish move towards 41300 levels.
8. The resistance levels for Bank Nifty is at 41632.
verdict
1. I remain bullish on the bank nifty if HDFC and ICICI bank remain bullish.
2. So i prefer to buy calls for any indication of break out above 41326. Tgt 41632.
3. However if the bank nifty remain range bound between 41326 and 41129 then we can skip the trade for tomorrow.
THE VIEWS ARE PERSONAL. PLEASE USE THIS INFORMATION TO AID YOUR DECISION MAKING.