BANK NIFTY & NIFTY Thursday 18 June 2020 Daily Chart Analysis
(Morning update 8:15 am)
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SGX nifty is very important parameter in order to identify gap up/gap down opening. SGX nifty trading around 9778 (time 7.50 am, 18 JUN 2020) Which is -0.87 % Negative.  As per current sgx level we can  expect gap down opening today in our market. you can watch current status of SGX nifty by clicking the SGX nifty image.


If we look at Bank nifty option chain data (25JUN2020) then Total open intrest on calls side around 56 lakh and puts side also 56 lakh, here call writers are almost equal to put writers.

Further if we look at Implied volatility at ATM (at the money), we will find 62.02 % on put side and 48.02 % on call side, Which means From current Total OI its looks neutral condition &  IV data shows negative sentiments.

Similarly we can look for nifty option chain data. With that data also we are getting same sentiments. 

You can see Option chain data by clicking Nifty 50 & Bank Nifty image.


As per sgx nifty level we are expecting gap down opening today in our market. Which means bank nifty may open around 19900-20050.

1st possible scenario,If bank nifty able to break 19750 support then we can see fall up to 19550,19350.

2nd possible scenario if bank nifty able to sustain above 20120 then we can expect 20250,20550  levels upside.

You can see chart of bank nifty by clicking bank nifty image.


Similarly if we look at nifty 50 (spot), 5 minute chart, today it will open gap down around 9780-9820.

1st possible scenario if nifty able to break its support down side which is around 9750 we can see fall upto 9680,9630.

2nd possible scenario if nifty able to sustain above 9820  then we can see up move upto 9900,9980.

You can see chart of nifty 50 by clicking nifty 50 image.


By looking at all parameters and data points, I am sharing My personal view towards slight negative direction.

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Tabrez Ansari

CEO @ TechWorld Day Trader

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Tabrez Ansari

As the CEO at ‘TechWorld day Trader’ Tabrez oversees the business, and overall development. He also handles strategic planning, marketing, finance management, and digital growth. Tabrez Ansari holds a bachelor’s degree in Mechanical Engineering from Savitribai Phule Pune University (SPPU), Pune. He is a Technical Analyst & Head trader at ‘TechWorld day Trader’,Generally Trade in BankNifty Options and Also Provides Training for the same.He is also Zerodha 60 days challenge winner in EQ-FO Segment.