BANK NIFTY & NIFTY Wednesday 24 June 2020 Daily Chart Analysis
(Morning update 8:50 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 10466 (time 8.30 am, 24 JUN 2020) Which is -0.18 % Negative.  As per current sgx level we can  expect flat 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 (18JUN2020) then Total open intrest on calls side around 72 lakh and puts side also 51 lakh, here call writers are less as compare to put writers.

Further if we look at Implied volatility at ATM (at the money), we will find 45.37 % on put side and 57.20 % on call side, Which means From current Total OI & IV data shows Positive 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.

BANK NIFTY CHART ANALYSIS

As per sgx nifty level we are expecting almost flat opening today in our market. Which means bank nifty may open around 22250-22350.

1st possible scenario,If bank nifty able to break 22000 support then we can see fall up to 21850,21650, 21520.

2nd possible scenario if bank nifty able to sustain above 22400 then we can expect 22550,22750  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 almost flat around 10450-10500.

1st possible scenario if nifty able to break its support down side which is around 10390 we can see fall upto 10320,10280.

2nd possible scenario if nifty able to sustain above 10520  then we can see up move upto 10580,10610.

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.

Note: As per my observation till expiry we will not get clear moves in options, So plan for small target because yesterday INDIA Vix closed below 30.

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.