Nifty 50 IndexShort
NIFTY AND BANK NIFTY ANALYSIS
12 Oct 2022 @ 0900 HRS
1. US is soft and Europe is neutral to bearish. Asian markets are neutral to bearish.
2. SGX Nifty is indicating a positive start at 16975.
3. FII have net sold 4600 Cr in cash. DII have bought half of it.
4. Reliance has formed an elephant bearish bar. HDFC Twins has sold off at the end and formed hanging man. ICICI Bank has again formed a bearish elephant bar.
5. Huge call unwinding has happened at 17000, 17100 levels. No put writing is seen at lower levels.
6. Nifty has support at 16868and resistance in the area 16987,17027 area. Bank Nifty has sp at 38498 and 38284. Res at 38700 to 38800 levels.
Verdict
1. Today we may see a trending to downside.
2. View is to sell any rise. may Buy 17000 - 16900 puts. Bank Nifty 38700 puts can be bought.
3. Not in favour of buying calls. Even if market go against the view.
THE VIEWS ARE PERSONAL. PLEASE USE THIS INFO TO ENHANCE YOUR RESEARCH AND DECISION MAKING.
1. US is soft and Europe is neutral to bearish. Asian markets are neutral to bearish.
2. SGX Nifty is indicating a positive start at 16975.
3. FII have net sold 4600 Cr in cash. DII have bought half of it.
4. Reliance has formed an elephant bearish bar. HDFC Twins has sold off at the end and formed hanging man. ICICI Bank has again formed a bearish elephant bar.
5. Huge call unwinding has happened at 17000, 17100 levels. No put writing is seen at lower levels.
6. Nifty has support at 16868and resistance in the area 16987,17027 area. Bank Nifty has sp at 38498 and 38284. Res at 38700 to 38800 levels.
Verdict
1. Today we may see a trending to downside.
2. View is to sell any rise. may Buy 17000 - 16900 puts. Bank Nifty 38700 puts can be bought.
3. Not in favour of buying calls. Even if market go against the view.
THE VIEWS ARE PERSONAL. PLEASE USE THIS INFO TO ENHANCE YOUR RESEARCH AND DECISION MAKING.
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