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

BANK NIFTY & NIFTY Tuesday 27 October 2020 Daily Chart Analysis
(Morning update 8:30 am)
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SGX nifty is very important parameter in order to identify gap up/gap down opening. SGX nifty trading around 11814 (time 8:25 am, 27 Oct 2020).  As per current sgx level we can expect slight gap up or flat opening today in our market. you can watch current status of SGX nifty by clicking the SGX nifty image.


If we look at Bank nifty option chain data (29 OCT 2020) then Total open interest on calls side around 1 crore 27 lakh and puts side 83 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 38.51 % on put side and 41.90 % 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.


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 or flat opening today in our market. Which means bank nifty may open around 24050-24150.

1st possible scenario,If bank nifty able to break 23980 support then we can see fall up to 23840,23750.

2nd possible scenario if bank nifty able to sustain above 24220 then we can expect 24350, 24460 levels upside. 

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


Similarly if we look at nifty 50 (spot), 5 minute chart, today it can open slight gap up or flat  around 11800-11840.

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 11790 we can see fall upto 11720,11690.

2nd possible scenario if nifty able to sustain above 11860 we can see up move upto 11910,11950.

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.


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.