Bank Nifty Level & Strategy for 23/Nov/2022

22 Nov 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 continued to trade in small range. Big players have significantly reduced their long as well as short positions. F&O action - new longs & short covering in calls & put writing (ATM/OTM, ITM) is indicating strength in Bank Nifty. Overall, Bulls Vs Bears positions with positive bias are pretty much balanced with highest OI in CE & PE at 42500. However, we should continue to book profit at higher level.

Please find below scorecard, PCR update & options statistics for your reference:

BANK NIFTY SCORECARD DATED 22/NOV/2022
BANK NIFTY IS UP BY 111 POINTS
Name Price Previous Day Change % Change
Bank Nifty 42457 42347 110.50 0.26%
India VIX 13.84 14.80 -0.95 -6.45%

OPTION STATISTICS BASED ON 24/NOV/2022 EXPIRY DATA
Max OI (Calls) 42500 (Open Interest: 3873475, CE LTP: 157.55)
Max OI (Puts) 42500 (Open Interest: 2449875, PE LTP: 150)
PCR 1.07 (PCR is in sideways to mild bullish zone)

Bank Nifty Calls:
ATM: Long Buildup, OTM:Short Buildup, ITM:Short covering, FAR OTM:Long Liquidation
Bank Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup

22 Nov 2022

Nota

FIIs & DIIs, Cash & F&O Buy/Sell Data Analysis Dated 22/Nov/2022

FIIs: Bearish in Cash & Bullish F&O
FIIs have SOLD in cash market for -698 Crores and SOLD in derivatives market for -297 Crores. FIIs have reduced their positions significantly ahead of monthly expiry.
FIIs have added new bullish positions in index future & index put options. They did PL booking in long & short positions of stock future, index put, stock call & stock put options. They have also reduced the short contracts in index future.

FII CHANGE OI IN INDEX CALL/PUT:
INDEX CALL CHANGE OI:0.41L, INDEX CALL LONG:-0.1L, INDEX CALL SHORT:-0.51L
INDEX PUT CHANGE OI:-0.78L, INDEX PUT LONG:0.09L, INDEX PUT SHORT:0.87L

FII NET OUTSTANDING OI IN INDEX CALL/PUT:
INDEX CALL NET OUTSTANDING OI:2.37L, INDEX CALL LONG:6.21L, INDEX CALL SHORT:3.84L
INDEX PUT NET OUTSTANDING OI:2.21L, INDEX PUT LONG:6.44L, INDEX PUT SHORT:4.23L

DIIs: Bullish in Cash & Bearish in F&O
DIIs BOUGHT in cash market for 636 Crores. DIIs have added new bearish positions in stock future (2736) & stock call. They did PL booking in long & short contracts of index future.

Pro Traders: Bullish
Pro traders have added new bearish positions in index future & bullish positions in index put (option writing). They did PL booking in stock future (long & short), index call (long & short), index put (long), stock call (short) & stock put (long).

Retail Traders: Highly Bearish
Retail traders have added new bearish positions in index future & index put options. They did PL booking in long as short positions in index call, stock future, stock call & stock put options.

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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.