BANK NIFTY & NIFTY Thursday 28 May 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 9358 (time 8:15 am, 28 MAY 2020) Which is 0.66 % Positive. As per current sgx level we can 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 (28MAY2020) then Total open intrest on calls side around 49 lakh and puts side 65 lakh which means it shows put writer are more as compared to call writer.
Further if we look at Implied volatility at ATM (at the money), we will find 88.58 % on put side and 62.50 % on call side, Which means From Total OI its looks positive sentiments & IV data shows negative sentiments.
Similarly we can look for nifty option chain data. With that data also we are getting same scenario.
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 gap up opening today in our market. Which means bank nifty may open around 18800-18900.
1st possible scenario,If bank nifty able to break 18750-18700 support then we can see fall up to 18350,18150,18000.
2nd possible scenario if bank nifty able to sustain above 18750 then we can expect 19000,19200, 19450 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 gap up around 9330-9360.
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 9250 we can see fall upto 9200, 9050.
2nd possible scenario if nifty able to sustain above 9300 then we can see up move upto 9450,9550.
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 positive direction.
Note: If nifty & banknifty not able to break yesterday’s high (nifty=9333,banknifty=18871) then we can see same move as of yesterday. any how if it break then ready for volatile session.
Tabrez Ansari
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.
