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Bankniftyoptions

PostMortem on BankNifty Today & Analysis of 21 NOV 2022Banknifty made some contradicting moves today with respect to the moves in Nifty50.  Nifty50 is showing an interim top formation on 15mts, 1hr chart but BankNifty is not showing signs of cooling down — every selling move is getting arrested.  Lets analyze today — BN opened at 42286 a gap down wrt last session and then made a green first candle and a red 2nd candle to reach where it started. Nifty50 on the other hand kept falling. By 09.40 the selling got arrested on both bank nifty as well as nifty 50 — but remember nifty50 was right at its support line (see yellow) whereas the nearest support line for bank nifty is 1% lower. Why contradictory? Its because bank nifty made 2 strong attempts to go higher, the first one from 09.45 to 11.25 and then 13.25 to close. The 2nd attempt was stronger. But nifty50 was laying low at the SR level without making any moves. This shows the strength in bank nifty bulls — dont really know whats keeping them up. Of the Bank nifty components HDFC bank made bearish chart pattern ICICI bank was perfectly flat — had a breakdown at 12.00 but recovered by 12.50 SBI also made bearish pattern AXIS made bullish pattern Kotak bank fell, but the first 5mts was brutal and the rest of the day was in that range. IndusInd turned bullish after 12.05 — but by the news it may be due to some news or event. The option premiums were also quite strange today, mostly because the India VIX was rising in the earlier part of the day when Nifty50 was falling but the equivalent implied volatility may not have risen for Bank nifty. The real premium rise came after 11.25 when Bank nifty started the 2nd leg of fall — but by looking at the volume of far OTM CE — it looks like short positioning. Remember i felt bearish on 18th — read here, but the fall is shallow than expected.  I tried a debit ratio spread — sell 1 lot of 42000 PE and buy 2 lots of 41800 at 13.24 when the BN was trying to break lower. But this resulted in a loss as BN did not go lower. SPX vs Bank nifty — our 1hr TF looking at a spread of +1.59% vs 25.91% SPX rose 0.48% on friday — now its right midway between the support of 3945 and resistance of 3991. If it breaks the support today — then we will definitely have a down day on 22nd. 15mts vs 1hr — we can see an interim top formation on the 15mts TF — but it isnt that visible on the 1hr.  So we would need to wait for some more downward moves before we can confirm a change in trend.
NSE:BANKNIFTY
by viswaram
Banknifty daily analysis for 22/11/22Bank nifty on the daily time frame has closed almost flat and it has taken a nice support from 42200 level. The market consolidated whole day and remained in the first hour candle. The market has closed near the 20 Emma. On 15 minute time frame, the market has closed above 20 ema and has closed near the day high. Support:- 42400, 42325, 42230 Resistance:- 42600 Bank nifty is still stronger than nifty. Watch for the banking sector and enter only on the break out/down. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty daily analysis for 21/11/22Banknifty on the weekly time frame has given only 300 points move and on the daily time frame the market has consolidated for 3 days. The market has formed a dragon fly doji and took rejection from 42600 levels many times. Banknifty is taking a halt on the higher levels and a trending market can be seen once market start closing above 42600 levels. On the hourly time frame, the market has again given a bullish closing but the markets are consolidating. Market has closed above both the EMA's even on the smaller time frame. Support :- 42400, 42230, 42100 Resistance :- 42600 Wait for the price action near the price level before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty daily analysis for 18/11/22.Banknifty on the daily time frame has given a gravestone doji. The market consolidated whole day and after touching 42600 there was a huge sell off taking market to test 42400 level in the last hour. On the hourly time frame, the market closed near 20 ema. Banknifty has consolidated whole day and closed near the opening. Closed between both the moving averages on smaller time frame. Support:- 42400, 42325, 42230 Resistance:- 42600 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
PostMortem on BankNifty Today & Analysis of 17 NOV 2022 ExpiryWhen i said its going to be a down day today, I expected a drop of 1 to 1.5% not just 0.18%  (see yesterday's analysis in related section) Bank nifty opened 42399 gap down and on expected lines as the global handover was quite negative. But in the first 4 candles itself BN had recovered the losses. From 10.00 to 11.25 there was a fall and i expected the index to trade much lower. But somehow our bank nifty is staying strong, the sheer ability not to breakdown deserves special mention. From 11.30 to 14.50 we had another rally and it took out the HOD. And then from 14.50 to close we had a bearish break down and the final close pretty near the open price. I was really expecting the last hour move to come before 11am, that would have created a bearish chart pattern - but as it stands the move just looks flattish. --- Of the Bank nifty components - HDFC bank maintained ground till 14.40 but broke down in the last 40 minutes ICICI bank was outperforming and made a bullish pattern SBIN started the first half of the day bearish, then made a surge and then broke down in the last 40 mts AXIS bank although traded bearish, it took support at yesterday's close price and then rallied moderately Kotak just gave away some gains that it had made yesterday, but the last 1 hour selling was really painful IndusInd bank traded without any special bias, but the trades from 14.05 to 14.55 seemed quite strange. --- Today was expiry day and there were multiple option strategies you could have deployed Naked straddle should have worked out if you had the conviction, because the open and close prices were same. But the stop loss would have hurt you on the CE side. If you knew how to roll up the CE side short position - it should have made you money All far OTMs went to zero, but the premiums were quite low, around 10.10 to 10.20 there was a spike in OTM CE prices - you could have gone naked short. Around 09.25 to 09.35 there was a spike in OTM PE prices too. Ratio spreads - which requires a strong direction to make money would not have made sense today, because both the moves were short lived. --- SPX had a down day yesterday, seems like it may go down further too as the retail data from US companies did not look good. The soft inflation data bullishness is fading out? SPX vs Bank nifty - spread widening again ! Yesterday's trade was between the support of 3945 and resistance of 3991. We would need the index to cross either of these zones to catch a trend. --- 15mts vs 1hr - both the charts are not looking bearish at the moment. Because we need a break in support level for a trend reversal and my nearest support line is at 41618 around 1.9% below the CMP.
NSE:BANKNIFTY
by viswaram
BankNifty Daily Levels Update For Option Day Trading End of Day Technical Analysis & Data Analysis for  Banknifty Intraday Future & Option Trading Support Zones For BankNifty  Intraday Trading First Support Zone For BankNifty –          ( 42404 - 42435) Second Support Zone For BankNifty –     (  42204 - 42235) Third Support Zone For Banknifty   -        (  41921 - 41951 ) Resistance  Zones For BankNifty Intraday Trading First Resistance  Zone For BankNifty –        ( 42635 - 42605 ) Second Resistance  Zone For BankNifty –    (  42835 - 42805 ) Third Resistance Zone For BankNifty     -    ( Wait For New High ) BANKNIFTY DATA ANALYSIS TO FIND TREND IN BANKNIFTY Max Pain As per Option Chain Analysis –  42500 PCR ratio as per Option Chain Analysis –  1.2 ( Bullish ) Major Support as Per Banknifty Open Interest Analysis –  42400 Major Resistance  as Per Banknifty Open Interest Analysis –   42600/42800
NSE:BANKNIFTYShort
by manojshinde27
Banknifty daily analysis for 17/11/22Banknifty again remained in a consolidation phase and touched 42600 levels. The market in the initial hour gave a movement and consolidated whole day. On 15 minute time frame, the market has tested its 20 ema and closed near the levels. The market were volatile. Even on the RSI indicator there is a divergence and a retest is also pending for another up move. Support :- 42440, 42340, 42230 Resistance :- 42600 Wait for the price action near the price level before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty Possible Trade in Expiry Option Day Trading Up/ Down Side Expiry Targets For Banknifty Support Zones For BankNifty  Intraday Trading First Support Zone For BankNifty –          ( 42204 - 42235 ) Second Support Zone For BankNifty –     (  41921 - 41951 ) Third Support Zone For Banknifty   -        (  41648 -41678 ) Resistance  Zones For BankNifty Intraday Trading First Resistance  Zone For BankNifty –        ( 42435 - 42405 ) Second Resistance  Zone For BankNifty –    (  42635 - 42605 ) Third Resistance Zone For BankNifty     -    ( Wait For New High )
NSE:BANKNIFTYShort
by manojshinde27