(38) Morning Update 8:30 am BNF & NF daily chart analysis
BANK NIFTY & NIFTY Tuesday 28 July 2020 Daily Chart Analysis
(Morning update 8:30 am)
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SGX NIFTY STATUS
SGX nifty is very important parameter in order to identify gap up/gap down opening. SGX nifty trading around 11177 (time 8:20 am, 28 JUL 2020) Which is 0.53 % positive. As per current sgx level we can expect flat or sight gap up opening today in our market. you can watch current status of SGX nifty by clicking the SGX nifty image.
NIFTY,BANK NIFTY OPTION CHAIN ANALYSIS
If we look at Bank nifty option chain data (30JUL2020) then Total open interest on calls side around 97 lakh and puts side 60 lakh which means it shows call writers more as compared to put writers.
Further if we look at Implied volatility at ATM (at the money), we will find 44.67 % on put side and 42.92 % on call side, Which means From Total OI its Shows slight negative sentiments.
Similarly we can look for nifty option chain data.
You can see Option chain data by clicking Nifty 50 & Bank Nifty image.
BANK NIFTY CHART ANALYSIS
On Bank nifty(spot), 5 minute chart I have market important Support and Resistance and few trend line as shown in video.
As per sgx nifty level we are expecting flat or sight gap up opening today in our market. Which means bank nifty may open around 21900-22100.
1st possible scenario,If bank nifty able to break 21850 support then we can see fall up to 21650, 21540.
2nd possible scenario if bank nifty able to sustain above 22150 then we can expect 22250, 22450 levels upside.
You can see investing.com chart of bank nifty by clicking bank nifty image.
NIFTY 50 CHART ANALYSIS
Similarly if we look at nifty 50 (spot), 5 minute chart, today it can open flat or sight gap up around 11160-11200.
In nifty all important support and resistance I have marked as shown in video.
1st possible scenario if nifty able to break its support down side which is around 11120 we can see fall upto 11040, 11000.
2nd possible scenario if nifty able to sustain above 11240 then we can see up move upto 11280,11300.
You can see investing.com 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.
Note: If bank nifty not able to break yesterday’s low then I am not expecting any big move today.
CEO @ TechWorld Day Trader
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