(38) Morning Update 8:30 am BNF & NF daily chart analysis
BANK NIFTY & NIFTY Monday 10 August 2020 Daily Chart Analysis
(Morning update 8:30 am)
★ ★ ★
SGX NIFTY STATUS
SGX nifty is very important parameter in order to identify gap up/gap down opening. SGX nifty trading around 11253 (time 8:15 am, 10 Aug 2020) Which is 0.24 % positive. As per current sgx level we can expect flat or 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 (13AUG2020) then Total open interest on calls side around 47 lakh and puts side 46 lakh which means it shows call writers & put writers are almost equal.
Further if we look at Implied volatility at ATM (at the money), we will find 30.27 % on put side and 29.20 % on call side, Which means From Total OI its Shows neutral condition.
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 slight gap up opening today in our market. Which means bank nifty may open around 21650-21850.
1st possible scenario,If bank nifty able to break 21550 support then we can see fall up to 21350, 21220.
2nd possible scenario if bank nifty able to sustain above 21850 then we can expect 21970, 22040 & 22150 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 slight gap up around 11200-11250.
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 11160 we can see fall upto 11110, 11040.
2nd possible scenario if nifty able to sustain above 11260 then we can see up move upto 11290,11320.
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 Positive direction.
Note: As per current market data almost everything looks neutral. So trade with levels.
CEO @ TechWorld Day Trader
Subscribe For Latest Updates
After subscribing you will be able to receive our daily Blog on Nifty, Bank Nifty Instantly on your Registered Email I’d.This service is totally FREE.