(38) Morning Update 8:30 am BNF & NF daily chart analysis

BANK NIFTY & NIFTY Wednesday 16 December 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 13640 (time 8:15 am, 16 Dec 2020).  As per current sgx level we can expect 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 (17 DEC 2020) then Total open interest on calls side around 1.2 crore and puts side 89 lakh which means it shows call writers more as compare to put writers.

Further if we look at Implied volatility at ATM (at the money), we will find 33.40 % on put side and 32.51 % 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 slight gap up opening today in our market. Which means bank nifty may open around 30750-30850.

1st possible scenario, If bank nifty able to break 30660 support then we can see fall up to 30520, 30390

2nd possible scenario if bank nifty able to sustain above 30850 then we can expect 31000, 31240 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  gap up around 13600-13650.

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 13560 we can see fall 13480,13420.

2nd possible scenario if nifty able to sustain above 13650 we can see up move upto 13710,13740.

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

Conclusion

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

 

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.