Bank Nifty Levels & Strategy for 18/Oct/2022

17 ott 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
Bank Nifty performed as expected. Traders who simply followed the technical pattern got rewarded heavily. Once Bank Nifty has given breakout above VWAP & 13EMA then throughout the day not even a single candle closed below 13 EMA/VWAP on 15 min chart. Those who shorted initially, took SL and reversed the trade for wonderful one way relief rally. Retail traders got caught again. FIIs have heavily added bullish positions in F&O contracts, US market is trading in green today and majority of the retail traders did exactly opposite to what FIIs did. May GOD bless retail traders. Please don't get carried away in one direction. Bank Nifty is in oversold zone now.

We have to be patient enough to make some money and follow our rules without fail. Shall we look for buy on dips near major support levels & sell on rise opportunities if you get good trading setup ????? Yes, I think so. What do you think?????

BANK NIFTY SCORECARD DATED 17/OCT/2022
BANK NIFTY IS UP BY 615 POINTS
Name Price Previous Day Change % Change
Bank Nifty 39920 39306 614.85 1.56%
India VIX 18.42 18.26 0.16 0.88%

OPTION STATISTICS BASED ON 20/OCT/2022 EXPIRY DATA
Max OI (Calls) 40000 (Open Interest: 2227475, CE LTP: 9.05)
Max OI (Puts) 37000 (Open Interest: 3057025, PE LTP: 363)
PCR 1.48 (PCR is in overbought 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

Please do share your comments. Let us work & win together. Have a very happy, healthy & profitable day ahead!

17 ott 2022

Nota

FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 17/Oct/2022

FIIs: Mild Bearish in Cash & Highly Bullish in F&O
FIIs have SOLD in cash market for -372 Crores and BOUGHT in derivatives market for 3606 Crores. I will not be surprised once retail trades book the losses in F&O contract then FIIs may turn bearish again. FIIs have heavily added bullish positions in all types of F&O contracts (index futures (3783), stock futures (32142), index call (40995), index put (-25086), stock call & stock put options).

FIIs Outstanding Open Interest in Index options as of today:
NET INDEX CALL CONTRACTS:1.87L, INDEX CALL LONG:4.79L, INDEX CALL SHORT:2.92L
NET INDEX PUT CONTRACTS:3.01L, INDEX PUT LONG:6.69L, INDEX PUT SHORT:3.68L

DIIs: Highly Bullish in Cash & Bearish in F&O
DIIs bought in cash market for 1582 Crores. DIIs have added short positions in stock future (-4484) and stock call (-6612) options. They did profit booking & reduced index future (-2050) contracts.

Pro Traders: Bullish
Pro traders have added bearish positions in index futures (-1254) & stock future (-11793). They have added bullish positions in index call (60127), index put (-190025), stock call & stock option contracts.

Retail Traders: Highly Bearish
Retail traders have heavily added bearish positions in all types of F&O contracts. They are doing exactly opposite to FIIs. They have bearish positions in index future (-4579), stock future (-15865), index call (-101122), index put (215111), stock call & stop put options. Unfortunately, Retail traders may have to run for the cover.

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.