Sunday, 12 December 2021

Banknifty trade plan and investing 13th Dec - 17th Dec

Banknifty weekly trade plan - 13th Dec to 17th Dec

BNF spot opened at 36252 and closed at 37105. It closed the previous week high. This is a bullish sign. It is expected BNF will retrace 38.2%, i.e., 38000. BNF will be bearish zone below 35300.

Nifty 500 structure improved. The market is yet to return to higher high and higher low form in the daily time frame 

Bank nifty future daily chart

In daily time frame, BNF is trading between AVWAP support 35750 and AVWAP resistance37300. A new all-time high can be witnessed if BNF breaks 35500 with volume and good momentum. AVWAP levels are very reliable levels for taking positional trading.

Critical support and resistance for next week

BNF weekly chart. Support and resistances are based on candlestick analysis.

Bank nifty Future and options data analysis

The data shows FII and Pro slowly increasing shorts in the market. 

  • MAXPAIN 3700
  • OI build up 
            Put Option  37000
            Call Option 37500, 3800
  • PCR 0.89
  • Implied volatility 19.46 
  • Historical volatility (10days) 21.18

The astrological prediction of the market for next week

Next week might be bearish

Domestic and international factors

International and domestic closed strong

Banknifty spot trading levels

Nifty is in a trading range. Need to buy near support and sell near support. 


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