BANK NIFTY & NIFTY Monday 29 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 10260 (time 8:35 am, 29 JUN 2020) Which is -078 % negative. As per current sgx level we can expect slight gap down 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 (2JUL2020) then Total open intrest on calls side around 43 lakh and puts side 33 lakh which means it shows call writers are more as compared to put writers.
Further if we look at Implied volatility at ATM (at the money), we will find 48.36 % on put side and 42.00 % on call side, Which means From Total OI & IV data its looks negative 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
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 down opening today in our market. Which means bank nifty may open around 21200-21400.
1st possible scenario,If bank nifty able to break 21000-21050 support then we can see fall up to 20750, 20550.
2nd possible scenario if bank nifty able to sustain above 21500-21550 then we can expect 21750,21950 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 slight gap down around 10250-10320.
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 10180 we can see fall upto 10120, 10080.
2nd possible scenario if nifty able to sustain above 10350 then we can see up move upto 10410,10460.
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 negative direction.
Tabrez Ansari
CEO @ TechWorld Day Trader
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