Sunday, 19 December 2021

Bank NIFTY में कैसे करें आज Trade plan

Banknifty trend following for next week

I discussed on12th Dec the banknifty trade plan that the next week the market will be bearish. We observed the same trend and booked good points in both indices.

Munaffe Ki Taiyari in Banknifty

Banknifty Chart Analysis


















Banknifty is in a downtrend in monthly, weekly, and daily time frames I have marked critical support levels across all the three-time frames. 
Banknifty positional long trade can be initiated above 37500. BNF is about to break the previous month's low. Any close below last week's low will ensure a lower high and lower low structure for the market. 
HDFCbank, SBI are all trading near important support levels.

Future and Option analysis






35500 strike PCR is at 4. This indicates strong support at that level. FII and Pro are net sellers in the market. The data shows extreme fear in the market. There might be a relief rally in the market soon.

Key parameters for the market

Negative  

  • Dollar index 96.945, INR 76.013 which increases the current account deficit.
  • US tapered down BOND buying so liquidity will reduce. 
  • FED will increase interest three times next year. These are not supporting for the Indian market. 
  • The spread of OMICRON is a threat in the future for the market. 

Positive  

  • Higher GST collection
  • PCR of near week 0.49. This might restrain further downfall immediately. 
  • Nifty and banknifty is trading at a premium.
  • Option chain analysis shows market should move up 

A budget rally might start soon 

Astrological forecast for next week

The market might see a gap-down opening during Rahu and Ketu star time on 20th December. 
 I expect the market will remain bullish next week. 

Critical levels for next week

  • 35620 will act as  trend changing level
  • Upper levels are 36400, 36900,37350
  • Lower levels  are  35500, 35300, 35000,34000

Option trading strategies for banknifty

Indian VIx was 16.34.  









Payoff chart 


The safe range for the strategy: 34000 to 39000


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