BANKNIFTY analogy for 14-17th Nov: Struggling to make a New High
BANKNIFTY Pre-analysis::::::::::::
Overall Structure : Uptrend
Index Components : Bullish Correlation
FGI Sentiments : Bullish ; Indian 63↑ & Global 66↑
FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI)
Insider Data : Neutral, PCR: 1.15↑, IVP: 0↓, Low IV: 17↓, VIX: 14.40↓ (22/29)↓
↑Upper Level : 42250, 42350, 42450, 42570, 42700.
↓Lower Level : 42000, 41930, 41800, 41700, 41550.
Market Opening(*Expected ORB): Flat
Activity: Long Buildup/Short covering
Conclusion: From above the nutshell, Showing Derivative data was negative and sentiment is neutral. Here Global market indicates positive sign whereas the Asian market shows neutral. Observed VIX is at lower top lower button. It's probability of flat/gapdown to upward tomorrow and rallies/soars towards 43000 by coming week after a volatile breakout.
Have a Happy & Safe Trading!
(Data source@21:00 IST)***
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***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
Overall Structure : Uptrend
Index Components : Bullish Correlation
FGI Sentiments : Bullish ; Indian 63↑ & Global 66↑
FII /DII Status : Positive in Cash Market & Derivatives (With Combined OI)
Insider Data : Neutral, PCR: 1.15↑, IVP: 0↓, Low IV: 17↓, VIX: 14.40↓ (22/29)↓
↑Upper Level : 42250, 42350, 42450, 42570, 42700.
↓Lower Level : 42000, 41930, 41800, 41700, 41550.
Market Opening(*Expected ORB): Flat
Activity: Long Buildup/Short covering
Conclusion: From above the nutshell, Showing Derivative data was negative and sentiment is neutral. Here Global market indicates positive sign whereas the Asian market shows neutral. Observed VIX is at lower top lower button. It's probability of flat/gapdown to upward tomorrow and rallies/soars towards 43000 by coming week after a volatile breakout.
Have a Happy & Safe Trading!
(Data source@21:00 IST)***
___________________________________
***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
