Nifty 50 IndexShort
NIFTY AND BANK NIFTY VIEW 04 OCT 2022
04 OCT 2022 AT 2050 HRS IST
1. US, Europe and Asia have rebounded.
2. SGX Nifty is indicating 141 PT gap up at 17010. Need to see tomorrow morning.
3. However Nifty did not open as per SGX nifty today morning.
4. India VIX at 21.63 is highly volatile.
5. Reliance gap up but lost the momentum. HDFC twins have made an inside candle at the upper end of previous day candle indicating bullishness. However ICICIbank and SBI have made bearish engulfing pattern.
6. Highest Call OI is at 17000 and highest put OI is at 16800. there is a straddle at 16900.
7. Bank Nifty has sp at 37600. Highest call OI is at 38500 and highest put OI is at 38000. if 38000 breaks, then next tgt is 37600.
verdict.
1. Tomorrow may be another rangebound day as nifty is gapping up above 17000 which is 200 SMA.
2. Look to sell nifty only below 16900 for a tgt of 16800. Agressive traders can buy 16900 puts during the opening itself SL 17050.
3. Bank Nifty is looking neutral. If HDFC twin breaks below 1390 and 2245 resply, then bank nifty can be shorted by buying 38000 puts.
THE VIEWS ARE PERSONAL . REQUEST DO YOUR RESEARCH .
1. US, Europe and Asia have rebounded.
2. SGX Nifty is indicating 141 PT gap up at 17010. Need to see tomorrow morning.
3. However Nifty did not open as per SGX nifty today morning.
4. India VIX at 21.63 is highly volatile.
5. Reliance gap up but lost the momentum. HDFC twins have made an inside candle at the upper end of previous day candle indicating bullishness. However ICICIbank and SBI have made bearish engulfing pattern.
6. Highest Call OI is at 17000 and highest put OI is at 16800. there is a straddle at 16900.
7. Bank Nifty has sp at 37600. Highest call OI is at 38500 and highest put OI is at 38000. if 38000 breaks, then next tgt is 37600.
verdict.
1. Tomorrow may be another rangebound day as nifty is gapping up above 17000 which is 200 SMA.
2. Look to sell nifty only below 16900 for a tgt of 16800. Agressive traders can buy 16900 puts during the opening itself SL 17050.
3. Bank Nifty is looking neutral. If HDFC twin breaks below 1390 and 2245 resply, then bank nifty can be shorted by buying 38000 puts.
THE VIEWS ARE PERSONAL . REQUEST DO YOUR RESEARCH .
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