NIFTY AND BANK NIFTY ANALYSIS FOR 14 FEB 2023.

13 Feb 2023 2045 Hrs.
1. US, Europe and Asia are looking bullish and oversold.
2. India VIX has increased 7 % to 13.7. still below 15.
3. HDFC Bank is looking bullish but range bound 1640 - 1660. Any break 0f 1643 will take bank nifty and nifty higher.
4. ICICI bank is clearly looking bearish and over bought.
5. SBI, Axis and Kotak are all looking bearish.
6. Reliance is looking oversold and may bounce back.
7. Nifty has strong resistance at 17900. bank nifty has strong resistance at 41500 & 41870 levels.
8. If nifty breaks 17700 decisively , next support is at 17625.
9. If Bank nifty breaks 41150, the next support is at 41075 and 41800.
10. Nifty has highest call OI at 17900 followed by 17800. Highest put OI is at 17700 and 17600.
11. Bank Nifty has Highest Call OI at 41500 followed by 41400.
12. India's core inflation level has increased to 6.25 % which is above the comfort zone of 6% of RBI. A negative news.
Analysis.
1. SGX Nifty is indicating 35 points uptick at 17830. This amounts to 41350 levels for bank nifty.
2. Any weakness below 17800 in nifty can be sold and Any weakness below 41300, i will start building bearish position.
3. We can accumulate more puts if Nifty breaks 17700 and Bank Nifty breaks 41150.
4. Bullish bets can only be taken for scalp if Nifty consolidates @ 17700 tgt 17780.
5. Similarly Bullish Bets can be taken only if Bank Nifty consolidates at 41250 levels and gives a break out above 41375. Tgt 41500.

I AM NOT A SEBI REGISTERED TRADER. PLEASE THIS INFORMATION FOR ENHANCING YOUR KNOWLEDGE.