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Bank Nifty Levels & Strategy for 29/Nov/2022 for NSE:BANKNIFTY by manishmgupta

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

Once gap-down was bought instantly amid global issues which is buying indication buying euphoria. Later Bank Nifty moved up but failed to cross previous day high/lifetime high. Profit booking at higher level forced Bank Nifty to closed flat. Shorts are build up in ATM/OTM/ ITM calls & puts except long liquidation in puts which show mild bearishness. Who is making money????? As usual, option writers are really making good money.

Avoid buying euphoria amid ongoing global issues, retails traders should continue wait patiently for good trade setup for identifying buying/selling opportunities. Retail traders must hedge their overnight positions. Please find below scorecard, PCR update & options statistics for your reference:

BANK NIFTY SCORECARD DATED 28/NOV/2022

BANK NIFTY IS UP BY 37 POINTS

Name Price Previous Day Change % Change

Bank Nifty 43020 42984 36.50 0.08%

India VIX 13.57 13.33 0.23 1.74%

OPTION STATISTICS BASED ON 01 /DEC/2022 EXPIRY DATA

Max OI (Calls) 43000 (Open Interest: 5644175, CE LTP: 222.7)

Max OI (Puts) 43000 (Open Interest: 4493450, PE LTP: 187.6)

PCR 0.84 ( PCR is in bearish zone)

Bank Nifty Calls:

ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup

Bank Nifty Puts:

ATM: Short Buildup, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Short Buildup

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