Bank Nifty Levels & Strategy for 06/Oct/2022 Expiry
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
Spectacular performance by Bank Nifty after yesterday's sharp correction. Retail/HNIs traders were heavily benefitted & rewarded for their long positions. FIIs booked the loss & turned highly bullish for 6th Oct expiry. Today, Retails traders have heavily added bearish positions for 6th Oct expiry. Short covering may lift Bank Nifty to higher levels. Today also US market is trading in positive zone and there may be another gap-up on Thursday. Big players are playing with innocent retail traders emotions who are not properly equipped with all required tools. If Bank Nifty closed at higher level on Thursday and all bearish positions may expire worthless. Post expiry FIIs/big players may again flip the side. May God bless retail traders. RETAIL TRADERS MUST AVOID NAKED LONG TRADES IN WEEKLY PUT & CALL OPTIONS, PLEASE LEARN TO HEDGE OVERNIGHT POSITIONS WITHOUT FAIL.
BANK NIFTY SCORECARD DATED 04/OCT/2022
BANK NIFTY IS UP BY 1080 POINTS
Name Price Previous Day Change % Change
Bank Nifty 39110 38030 1080.40 2.84%
India VIX 19.57 21.37 -1.80 -8.40%
OPTION STATISTICS BASED ON 06/OCT/2022 EXPIRY DATA
Max OI (Calls) 41000 (Open Interest: 2714350)
Max OI (Puts) 37000 (Open Interest: 2701450)
PCR 1.07 (PCR is in sideways to mild bullish zone)
Bank Nifty Calls:
ATM: Long Buildup, OTM:Short covering, ITM:Short covering, FAR OTM:Long Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Shall we look for buy on dips opportunity at support levels & sell on rise with strict SL at higher levels as long as Nifty trading within a range? Yes, I think so. What do you think?
Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!
BANK NIFTY
Spectacular performance by Bank Nifty after yesterday's sharp correction. Retail/HNIs traders were heavily benefitted & rewarded for their long positions. FIIs booked the loss & turned highly bullish for 6th Oct expiry. Today, Retails traders have heavily added bearish positions for 6th Oct expiry. Short covering may lift Bank Nifty to higher levels. Today also US market is trading in positive zone and there may be another gap-up on Thursday. Big players are playing with innocent retail traders emotions who are not properly equipped with all required tools. If Bank Nifty closed at higher level on Thursday and all bearish positions may expire worthless. Post expiry FIIs/big players may again flip the side. May God bless retail traders. RETAIL TRADERS MUST AVOID NAKED LONG TRADES IN WEEKLY PUT & CALL OPTIONS, PLEASE LEARN TO HEDGE OVERNIGHT POSITIONS WITHOUT FAIL.
BANK NIFTY SCORECARD DATED 04/OCT/2022
BANK NIFTY IS UP BY 1080 POINTS
Name Price Previous Day Change % Change
Bank Nifty 39110 38030 1080.40 2.84%
India VIX 19.57 21.37 -1.80 -8.40%
OPTION STATISTICS BASED ON 06/OCT/2022 EXPIRY DATA
Max OI (Calls) 41000 (Open Interest: 2714350)
Max OI (Puts) 37000 (Open Interest: 2701450)
PCR 1.07 (PCR is in sideways to mild bullish zone)
Bank Nifty Calls:
ATM: Long Buildup, OTM:Short covering, ITM:Short covering, FAR OTM:Long Buildup
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Shall we look for buy on dips opportunity at support levels & sell on rise with strict SL at higher levels as long as Nifty trading within a range? Yes, I think so. What do you think?
Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!