BANKNIFTY analysis for today 21 JUN
Diupdate
As we discussed, BANKNIFTY was in the sideways channel today,
If we look at the chart now:
The market had a bearish momentum from resistance initially, but after that, it took support and went high till the given level.
Support levels: 51163, 50485, and 49700 or 200 EMA
resistance levels: 51836 and 52450
If we look at the OI data:
PCR = 1.09, which has decreased from 1.34, shows a bearish sign in the market. 50450 is working as max-pain. There has been a huge CE Writing at 51400 and 51500.
I am expecting the market:
Case 1: Sideways in range 51163-51836.
Case 2: Bearish if breaks to downside.
Reason:
Verdict: Sideways or Bearish
Case 1: Sideways in range 51163-51836.
Case 2: Bearish if it breaks the 51163 to the downside.
Plan of action:
Case 1: Sideways-> Sell 51500 CE and 51500 PE (Hedge it with 20/- premium CE)
Case 2: Bearish: Keep Sell 51500 CE (Hedge it with 20/- premium CE)
If we look at the chart now:
The market had a bearish momentum from resistance initially, but after that, it took support and went high till the given level.
Support levels: 51163, 50485, and 49700 or 200 EMA
resistance levels: 51836 and 52450
If we look at the OI data:
PCR = 1.09, which has decreased from 1.34, shows a bearish sign in the market. 50450 is working as max-pain. There has been a huge CE Writing at 51400 and 51500.
I am expecting the market:
Case 1: Sideways in range 51163-51836.
Case 2: Bearish if breaks to downside.
Reason:
- RSI > 50 is showing divergence, which might lead to some corrections.
- Price > EMA(13, 50, 200), which indicates the bull market.
- PCR = 1.09, which has decreased from 1.34, shows a bearish market.
- Price> VWAP shows a bull market structure.
Verdict: Sideways or Bearish
Case 1: Sideways in range 51163-51836.
Case 2: Bearish if it breaks the 51163 to the downside.
Plan of action:
Case 1: Sideways-> Sell 51500 CE and 51500 PE (Hedge it with 20/- premium CE)
Case 2: Bearish: Keep Sell 51500 CE (Hedge it with 20/- premium CE)
Catatan
MARKET AT 50 ema- 15 MIN TIME FRAME. PROTACT YOUR PROFITS
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.