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Bank Nifty-Hanging man-caution critical level 38458Bank Nifty made a bearish hanging man candle after several bullish sessions. The level 38458 proved to be a tough one to sustain above for bank nifty today---despite supportive buying by FII (112cr) and DII(379cr) net 491cr buy by institutions. 38458 is a pivot level on the shorter timeframe. So if bank nifty opens above this critical level and sustains above previous high, then we can safely assume that the bullish sentiments continue-so next resistance would be 38743/38832. Otherwise we can trade as per downward price action where next support is 37457. Do you see some consolidation tomorrow?
NSE:BANKNIFTY
by PromodSshrivastava
Bank Nifty - Next resistance at 38847Bank Nifty moved up in the closing hours with a very strong momentum. If the momentum continues with todays high breached (gap down opening indicated by nifty tomorrow) then we can safely assume a continued move towards 38847. Despite net FII selling, we saw a big momentum. So with support from FIIs, we could see a strong move to the next level of 38847. PCR at 1.12 has become bullish compared to yesterday. CPR is going to act as a major support level, for an upwards move. what do you think?
NSE:BANKNIFTYLong
by PromodSshrivastava
Bank Nifty- Inside bar candle todayBank Nifty made a bullish inside bar candle today. Big positives today--- Despite massive gap down, BN rebounded to close above critical support pivot level of 37457. FIIs sold massively (-1927cr) against 801cr DII buying =net 1126cr sold by FII/DII.--despite this Banknifty managed to hold the pivot support and made a bullish candle. CPR is narrow tomorrow (56points width only) so it could add some more strength on downside support for a trend upwards. PCR however dropped significantly to 0.82 which indicates that option writers are betting on further downside. FIIs and global cues still seem to favour a sell off....let us see if Bank nifty consolidates and resumes the uptrend tomorrow.
NSE:BANKNIFTYLong
by PromodSshrivastava
Bank Nifty Trade Plan for 04 JAN 2022Bank Nifty Trade Plan for 04 JAN 2022 After a good rally can expect some profit booking today. Expecting a flat to small gap up opening. Expected Range: Downside - 36000 Upside - 37000 Very wide CPR, can expect to be in a range. Any pull back to Bullish Reversal zone(36150) is a buying opportunity in Bank Nifty and expect above targets. On opening if the Previous day high is sustained and support confirmed we can possibly go long with targets as plotted on the chart with Previous day close as SL. In case previous day close is compromised then we can expect BN to test out Bullish reversal zone and once support confirmed we can buy at these levels.
NSE:BANKNIFTY
by RaviChandran_Rajkumar
Bank Nifty- Finally breaches 200EMA with a bullish candleBank nifty broke above 200EMA witha strong bullish candle and clsoed above it. FII 575cr and DII 1741cr strong buying support finally propelled bank nifty above 200EMA. Question is whether FIIs will continue to buy and will it sustain above 200EMA. The PCR at 0.97 is certainly encouraging sign from option writers who have a more balanced view (rather than a bearish view on bank nifty thus far). Vix at 16.225 has dropped by 2% on 31st which should encourage investment from FIIs. Nifty has shown appreciable strength as well. Should the momentum carry we could see 100EMA as the next major resistance as 200EMA will act as a major support from here on. Let us see how markets open on monday.
NSE:BANKNIFTYLong
by PromodSshrivastava
Bank Nifty- 9th consecutive candle below 200EMA Bank Nifty closed with a green candle but with little to cheer as it closed yet another daily candle below 200EMA. 35358 is a critical resistance on the upside while 34456 is the next support below. PCR at 0.73 indicates option writers' view expecting some more downside. CPR is a narrow one with 66 points width, so we could expect a trending day. Continued selling by FIIs 986cr & 578cr buying by DIIs resulted in a net 409cr selling. Bank Nifty could hold on to previous day's levels is a signal of some strength. Till the 200EMA is breached, however we should expect more downside. Let us see how it trades this coming final session.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty- Red candle closes below 200EMA, 8th day in a rowBank Nifty breached 35k in the closing minutes after a long consolidation during the day. PCR fell to 0.7 with option writers fearing more downside. This fall despite net 32cr buying by FII/DII today. CPR tomorrow is 60pts wide -open below CPR will probably result in CPR resistance and a sharp downtrend. 34456 is strong pivot support on the downside. 8th consecutive day Bank Nifty has closed below 200EMA. Let us see how it trades tomorrow... **For levels for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 - Nifty & Bank Nifty levels - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10pm.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty- 7th consecutive close below 200EMABank Nifty made a red candle today, despite buying by both FIIs +207cr and DIIs +567cr --which indicates some worry. PCR dropped today to 0.93 indicating reluctance of option writers on Put side. CPR is almost a single line with almost no width--indicates a trending day. Will Bank Nifty find institutional buying support to breach the 200EMA or will we see some offloading and profit booking on the back of a higher close today---i would go with the latter--we should see some downward move. Lets see how markets go tomorrow. **For levels for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 - Nifty & Bank Nifty levels - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10pm.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty- 34384 critical supportBank Nifty closed with a green candle today taking support at 34384 pivot. Worry remains that it is still trading below the 200EMA. FIIs sold for 1038cr while DII bought for 956cr today. So even without significant selling pressure form institutions, the markets couldnt break away upwards. PCR is at 1.11 which shows sense of relief from put writers - contra view could be that we could see a downside move sooner. So we could have bank nifty move sideways given that the CPR is much wider than we saw today. **For levels for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 - Nifty & Bank Nifty levels - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10pm.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty- Takes support at 50EMA, more downside to come ?Bank Nifty has taken support at 50EMA this week. However the FII (-715cr) and DII(-43cr) both selling off on friday -indicates propensity to continue selling Which might mean more downside to come. A small pullback however cannot be ruled out. Let us see how markets go on the last trading week this calendar year... For calculations on CPR and more data for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Monday 27Dec2021 - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10 or morning by 830am -well before market hours.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty- Filled Gap, major resistance at 200EMABank nifty (almost) filled the Gap. Halted at the 200EMA resistance. This is the fourth consecutive daily candle formed below the 200EMA. The retracement might be over and we could now witness the weakness come back. The PCR for 30th expiry at 0.77 still shows reluctance from option writers to place bets on put side. FII sold just 272cr compared to 1196cr buying by DIIs--and yet we saw a red candle...indicaates quite widespread expectation of more correction -or profit booking. Had FIIs sold for 2000-3000cr or thereabouts, would we have seen a much steeper slide & a much longer red candle? CPR is extremely narrow tomorrow and we could see a trending market. For calculations on CPR and more data for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Friday 24Dec2021 - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10 or morning by 830am -well before market hours.
NSE:BANKNIFTYShort
by PromodSshrivastava
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Bank Nifty- Gap to be filled?Bank Nifty couldn't rally to fill the Gap left behind on 20th. This is significant because the FII/DII net 766cr buying could not take Bank nifty break monday high either. If FII buying resumes today, then could we see the critical 34800 level broken? PCR at 0.85 --has recovered well on the back of one green trading session. Will it be sustained today? The chart is still trading below the 200EMA, which is another resistance to be broken if prices have to move upwards. For support/resistance levels & other data, pls check out my twitter handle @OptionsNo11 Meanwhile despite the small pullback, chart still looks weak...unless it sustains above 35000 today in first trading hour. Lets see.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty- Classic inside bar candle setupbank Nifty made an inside bar red candle today. It is at a strong support of 34360 (monthly S3 pivot support). Inside bar indicates a strong likelyhood of breakout (could be up or down) - tomorrow. So if the price breaches 34360 then we could test 33032 which is the next strong support. PCR is higher today at 0.6 with 34500 and 34000 as potential resistance points in case we see a downward slide. FIIs sold for only 1210cr and were outgunned by DII who bought for 1405cr --net 195cr positive---still we ended up with a red candle today. If FII/DII are net sellers tomorrow, then we could see a breakdown. Otherwise, banknifty is at a relatively strong support level 34360. Let us see if the weak chart shows some more downside before a pause tomorrow.... You can check Nifty & Bank Nifty Nifty & Bank Nifty levels for wed 22Dec2021 - Vix, FII , CPR & options/PCR data. (my twitter handle is @OptionsNo11 ).
NSE:BANKNIFTYShort
by PromodSshrivastava