Bank Nifty Levels & Strategy for 25/Oct/2022

21 oct. 2022

Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.

BANK NIFTY
Today global cues & India's internal cues were balanced. Bank Nifty really performed well and closed 684 points up in nice green. Big players have also taken bullish positions. We have also seen decent profit booking at higher levels. Overall, it looks like, we are all set to enjoy a happy Diwali. Once again bulls as well bears were rewarded who waited patiently for the right trading setup. Today, I have also shared a sample Nifty short trade setup for retail traders reference.

Shall we continue to buy on dips & sell on rise with strict SL? Yes, I think so. Please share your thoughts. There is no need for traders to work with fixed mindset. Keep the things simple and trade one day at at time. We have Diwali holiday on Monday & Wednesday so only two more trading days left before October month expiry. Today, US markets are trading in green. We need to digest tdoay & Monday's data for Tuesday's trades. RIGHT NOW, OVERALL BIAS IS POSITIVE. LET US KEEP AN EYE ON GLOBAL CUES & DECIDE ON NEXT ACTIONS ON TUESDAY MORNING.

BANK NIFTY SCORECARD DATED 21/OCT/2022
BANK NIFTY IS UP BY 685 POINTS
Name Price Previous Day Change % Change
Bank Nifty 40784 40100 684.50 1.71%
India VIX 17.28 17.23 0.05 0.28%

OPTION STATISTICS BASED ON 27/OCT/2022 EXPIRY DATA
Max OI (Calls) 41000 (Open Interest: 2246725, CE LTP: 258)
Max OI (Puts) 40000 (Open Interest: 2269975, PE LTP: 95.45)
PCR 1.19 (PCR is in buying Zone)
Bank Nifty Calls:
ATM: Long Buildup, OTM:Long Buildup, ITM:Short covering, FAR OTM:Long Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup

21 oct. 2022

Note

FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 21/Oct/2022

FIIs: Bullish in Cash & F&O
FIIs have BOUGHT in cash market for 439 Crores and BOUGHT in derivatives market for 11189 Crores. FII have added bullish positions in index futures, index call, stock future and stock call option contracts. They have added bearish positions in index put & stock put option contracts.

FIIs Outstanding Open Interest in Index options as of today:
NET INDEX CALL CONTRACTS:2.32L, INDEX CALL LONG:5.27L, INDEX CALL SHORT:2.95L
NET INDEX PUT CONTRACTS:4.21L, INDEX PUT LONG:7.32L, INDEX PUT SHORT:3.11L

DIIs: Bearish in Cash & Bullish & F&O
DIIs SOLD in cash market for -119 Crores. DIIs have added bearish positions in index future and added bullish positions in stock future & stock call option contracts. They did PL booking in index put options.

Pro Traders: Neutral
Pro traders have added bullish positions in index future, index call, index put, stock call & stock put option contracts. They have added bearish positions in stock future. They did PL booking in short contract of index future & long contracts of stock future.

Retail Traders: Neutral
Retail traders have added bearish positions in index future, index call, stock call & stock put options. They have added bullish positions in stock future & index put options. They did PL booking in long contracts of index future & stock future & short contracts of stock futures.

Please do review, analyse and share your comments as well. Many thanks for following me on twitter, liking my analysis & retweet. Let us work and win together. Wish you a very happy, healthy & profitable trading day ahead!

Disclaimer: I have analysed the data based on my limited knowledge. I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me for trading as it may lead to financial losses. Please consult your financial advisor before trading.