Wednesday, 22 December 2021

Experts view on banknifty for 23th December

Is Bank Nifty bullish or bearish today?

Banknidty daily chart

As discussed yesterday, Banknifty future gave a bullish move and closed at 35155. 

Bank Nifty Nov Future Open Interest Volume is at 23.4 lakh with liquidation of 0.03 Lakh contract, with an increase in Cost of Carrying suggesting SHORT positions were closed today.

  • FII and Pro reduced short positions
  • MAX Pain 35000
  • PCR @ 1.01
  • The Optionchain indicates decent support at 34800 and reasonable resistance at 35200
  • Positional long can be initiated above 20 days moving average or above 37750 as that was the last swing high.
  • The gap between 34123 to 35350 will act as resistance 
Banknifty intraday trading levels based on banknifty spot levels

  • Buy Above 35080  Tgt 35200 
  • Sell Below 34900  Tgt 34775 
How to intraday option strategies till budget 

Trading near VWAP for the call side might be very rewarding


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