NIFTY AND BANK NIFTY ANALYSIS FOR 24 NOV 2022
24 Nov 2022 2100 hrs
TOMORROW IS WEEKLY AS WELL AS MONTHLY EXPIRY. MARKET MAY REMAIN VOLATILE.
1. US, Europe and Asia are all bullish preceding the Christmas holidays. So we may see some more rally till Dec.
2. India VIX is low at 14 which is bullish.
3. SGX Nifty is showing 52 points uptick at 18307. This amounts to 150 points in Bank Nifty @ 42860 which is the today's High. So Bank Nifty will be testing new highs.
4. Highest Call OI for Nifty is @ 18300 followed by 18400. Highest Put OI is at 18200
5. Similarly Bank Nifty highest call OI at 43000 followed by 43500. Put OI is highest at 42500 followed by 42600.
6. Reliance looks bearish being below 20 SMA. But it is oversold.
7. HDFC Bank is consolidating with a bearish bias. ICICI Bank looks bullish. SBI and Axis Bank Look bullish.
Analysis.
1. Nifty look bearish with Reliance and HDFC Bank looking bearish. OI also indicates the same. we can sell Nifty 18200 put when nifty reaches 18300-18350 and buy
18300 call when it reaches 18200 levels.
2. Bank Nifty may trade between 42600 -43000. so it will be prudent to buy on dips TO 42600 Levels and sell on rally to 43000 levels.
I AM NOT A SEBI REGISTERED TRADER. PLEASE USE THIS INFO TO ENHANCE YOUR KNOWLEDGE.
TOMORROW IS WEEKLY AS WELL AS MONTHLY EXPIRY. MARKET MAY REMAIN VOLATILE.
1. US, Europe and Asia are all bullish preceding the Christmas holidays. So we may see some more rally till Dec.
2. India VIX is low at 14 which is bullish.
3. SGX Nifty is showing 52 points uptick at 18307. This amounts to 150 points in Bank Nifty @ 42860 which is the today's High. So Bank Nifty will be testing new highs.
4. Highest Call OI for Nifty is @ 18300 followed by 18400. Highest Put OI is at 18200
5. Similarly Bank Nifty highest call OI at 43000 followed by 43500. Put OI is highest at 42500 followed by 42600.
6. Reliance looks bearish being below 20 SMA. But it is oversold.
7. HDFC Bank is consolidating with a bearish bias. ICICI Bank looks bullish. SBI and Axis Bank Look bullish.
Analysis.
1. Nifty look bearish with Reliance and HDFC Bank looking bearish. OI also indicates the same. we can sell Nifty 18200 put when nifty reaches 18300-18350 and buy
18300 call when it reaches 18200 levels.
2. Bank Nifty may trade between 42600 -43000. so it will be prudent to buy on dips TO 42600 Levels and sell on rally to 43000 levels.
I AM NOT A SEBI REGISTERED TRADER. PLEASE USE THIS INFO TO ENHANCE YOUR KNOWLEDGE.
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