Bank Nifty Levels & Strategy for 11/Nov/2022

10 Nov 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, once again we have seen both types of trades in Bank Nifty. Bank Nifty open in red, touched the major support level and finally offered decent recovery from lower levels. Pressure at higher level near lifetime is quite evident. Traders should continue to book profit at higher levels and hedge their overnight positions to protect their capital. Please find below Bank Nifty scorecard for more details about short & long positions in options.

BANK NIFTY SCORECARD DATED 10/NOV/2022
BANK NIFTY IS DOWN BY -179 POINTS
Name Price Previous Day Change % Change
Bank Nifty 41604 41783 -179.45 -0.43%
India VIX 15.57 15.92 -0.35 -2.18%

OPTION STATISTICS BASED ON 17/NOV/2022 EXPIRY DATA
Max OI (Calls) 41500 (Open Interest: 1097450, CE LTP: 473)
Max OI (Puts) 41500 (Open Interest: 1068775, PE LTP: 292.9)
PCR 0.84 (PCR is in bearish zone)

Bank Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short covering, FAR OTM:Short Buildup

10 Nov 2022

Catatan

FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 10/Nov/2022

FIIs: Mild Bullish in Cash & Bearish in F&O
FIIs have BOUGHT in cash market for 36 Crores and BOUGHT in derivatives market for 2632 Crores. Please review OI summary clearly. FIIs have buying figures in F&O and utilized the amount for adding bearish positions.

FIIs have added new bearish positions in index future, stock future, stock call & stock put option contracts. They have done PL booking in long as well as short contracts of index call & index put options.

FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:-0.16L, INDEX CALL LONG:-2.01L, INDEX CALL SHORT:-1.85L
INDEX PUT CHANGE OI:-0.67L, INDEX PUT LONG:-1.46L, INDEX PUT SHORT:-0.79L

FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:1.98L, INDEX CALL LONG:4.19L, INDEX CALL SHORT:2.21L
INDEX PUT NET OUTSTANDING OI:2.5L, INDEX PUT LONG:4.8L, INDEX PUT SHORT:2.3L

DIIs: Bearish in Cash & F&O
DIIs SOLD in cash market for -967 Crores. DIIs have continued to add new bearish positions in stock future and stock call options. They PL booking long & short contracts of index future and index put options.

Pro Traders: Bearish
Pro traders have added new bearish positions in stock call and stock put options. They have added bullish positions in stock future. They did PL booking in long & short contracts of index future, index call & index put options.

Retail Traders: Highly Bullish
Retail traders have heavily added new bullish position in index future, stock future, stock call and stock put options. They did PL booking long & short contracts of index call & index put and reduced short contracts of index futures. Working exactly opposite to big players.

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.

11 Nov 2022

Catatan

Global cues are highly positive. US CPI inflation correctly sharply from 8.2% to 7.7% . US bond yield corrected to 3.81% (below 4%). US Bond Index is 108. Indian Rupee also recovered nicely. We are all set for an excellent gap-up trade. Yesterday, retail traders have added bullish positions heavily.

Friends, please do book profit at higher levels and wait for good setup to enter on long side (buy on dips only). Trend is your friend. Simply follow the trend.

Good luck for the profitable trades 🤗🤗🤗🤗🤗🤗🤗🤗🤗