(38) Morning Update 8:30 am BNF & NF daily chart analysis
BANK NIFTY & NIFTY Monday 6 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 10684 (time 8:15 am, 6 JUL 2020) Which is 0.91% Positive. As per current sgx level we can expect slight 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 (9JUL2020) then Total open intrest on calls side around 49 lakh and puts side 36 lakh which means it shows call writers are more as compared to put writers.
Further if we look at Implied volatility at ATM (at the money), we will find 37.50 % on put side and 35.96 % on call side, Which means From Total OI its Shows 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 slight gap up opening today in our market. Which means bank nifty may open around 21950-22100.
1st possible scenario,If bank nifty able to break 21850 support then we can see fall up to 21750, 21550.
2nd possible scenario if bank nifty able to sustain above 22180-22200 then we can expect 22350,22550 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 will open slight gap up around 10620-10660.
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 10550 we can see fall upto 10490, 10450.
2nd possible scenario if nifty able to sustain above 10690 then we can see up move upto 10740,10770.
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 Positive direction.
Note: Soon We will see big move in nifty or bank nifty. If nifty holds upper level then bank nifty will move up side very quickly and if bank nifty holds down side level then nifty may fall sharply.
CEO @ TechWorld Day Trader
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