Bank Nifty Level & Strategy for 19/Sep/2022

16 Eyl 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 is down by -432.4 points. Bank Nifty performed as expected based on global cues and strong selling by FIIs. Bear made good money today. PCR is shifted down from 0.87 (bearish zone) to 0.69 (highly bearish zone). US markets are trading at 2 months low and trading today as well in red. US Dollar is getting stronger and Indian Rupee is getting weaker. RBI will have no choice but to go ahead for a rate hike in India to control inflation & Dollar-Rupee equation.

Highest open interest on call side at 41500 (Remained at same level)
Highest open interest on put side at 38500 (Remained at same level)

NIFTY
Nifty is down by -346.55 points. Today, Nifty has broken down & closed below major support levels. PCR is down from 0.72 (bearish zone) to 0.49 (oversold zone). Today, selling on rise strategy coupled with F&O data worked well as expected. Market sentiment has turned bearish, but it will be better to wait for good trade setup because Nifty is right now in oversold zone otherwise traders may get trapped.

Highest open interest on call side at 19000 (Shifted up from 18700 to 19000)
Highest open interest on put side at 17000 (Shifted up from 16500 to 17000)

Shall retail traders should utilize gap-down on Monday for profit booking & wait for right opportunity? What’s your idea for next trading session?

Shall we again start looking for sell on rise opportunities ?????
1. Only at higher level after decent pull back from lower levels
2. near major resistance levels
3. near high OI in CE strikes with strict stoploss?

Shall we look for buy on dips opportunity
1. near major support levels
2. near high OI in PE strikes with strict SL?

What do you think? Please do share your comments. Let us work & win together.

Please do check & review following prior to finalize your strategy/work plan for next trading session
1. Global cues based on EOD data
2. FIIs/DIIs F&O data analysis prior to finalize your strategy/work plan for tomorrow

Have a very happy, healthy & profitable day ahead!

16 Eyl 2022

Not

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

FIIs: Highly Bearish
FIIs has sold in cash for -3260 Crores and bought in derivatives market for 4345 Crores. FIIs has added bullish positions in index future & index call option contracts. FIIs heavily shorted stock future (-53505) and took bearish positions index put (bought 51269), stock calls and stock put options. FIIs dragging market in downward direction.

DIIs: Neutral
DIIs sold in cash market for -37 Crores. DIIs bought index future (17827) stock future (13327) contracts and partially hedged using index put & stock call options. DIIs are neutral.

Pro Traders: Highly Bearish
Pro traders took bearish positions in index future and bullish positions in stock future contracts. They have heavily shorted index calls (-151272) and stock calls & bought index put (20016) & stock put options.

Retail Traders: Highly Bullish
Retail traders have sold index futures (-15023) & bought stock futures (29051) contracts. They bought index calls (12906) & stock calls (81705). They have shorted index put (-73130) and stock put (-41064) option contracts.

Please do review, analyse and share your comments as well. Let us work and win together.

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.