Hello Traders. Good Morning!
Yesterday the entire day buying happened in the lows. Supporting the market the hold the level,
So Price on retest of that level can gain momentum. Support and resistance is on the chart.
Highest open interest in call option is at 34000 & put option is at 31000. Big move is possible today since the entire week was in sideways.
Hello Friends! Good Morning
Banknifty Analysis for today
> PCR is below 1.25 in banknifty.
> OI Support is @ 32000 and OI resistance @ 33000
> Fii sold less compared to day before yesterday and dii have more interest now in the cash market.
Fii sold very less in the index future.
> European market and US market are down. Asia is getting pull back in some...
Banknifty has given a deeper pullback in RSI. Yesterday nifty performed but banknifty did not. If Nifty performs a little better today bank nifty will rally. The OI data on banknifty is not very strong, PCR is negative in bank nifty. Daily candle lower wic can be support for todays upmove in banknifty.
To know the price actions story watch the yesterdays analysis....
DII Started selling the cash market and FII selling the index future. Max Open Interest in Banknifty for the upcoming week is at 34000 which is very close to the current level. This shows that there is very less chances for an upmove tomorrow. But Banknifty is in the middle of our buy or sell level, My opinion looking at price level is natural. Price is at...
Bank nifty looks positive and can be added from these levels. If we see the bottom there is a clear support with TDI diversion. The index broke its resistance today strongly and should continue its strong momentum. The first target is 33500 followed by 34100. Should follow a stoploss below 32000 on closing basis.
Todays Bank Nifty prediction.
Get your numbers ready and later tell me how you performed.
lower range 20646
upper range 21321
Best Strategy - sell on upper levels , buy on lower levels
The Chart clearly shows the levels.
Make sure you have your home work done before entering the market as its going to be Extremely volatile day.
My numbers are derived out of...
Support of the day - 20750
Resistance of the day - 21310
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