NIFTY AND BANK NIFTY ANALYSIS FOR 21 MAR 2023.
20 Mar 2023 2100 Hrs.
1. US is looking positive. Europe is bearish due to credit suisse bank crisis. Asia is bearish.
2. The world market is very volatile due to banking crisis in US and Europe. This is showing in indian market also as the market remained extremely volatile making it difficult to trade due to stop loss being hit on either side.
3. India VIX is 16 indicating high volatility.
4. Nifty after hitting a low of 16800 closed @16988 which is below 17000.
5. Bank Nifty has however held up and closed above 39350 @39372.
6. SGX Nifty is indicating 71 points uptick at 17071. This amounts to 200 points move on bank nifty at 39550.
7. HDFC Bank and ICICI bank is bearish on daily chart.
8. reliance is very bearish.
9. Nifty has highest call OI at 17200 followed by 17100. Highest Put OI is at 17000.
10. Bank Nifty has highest call OI at 39500. Highest Put OI is at 39000.
Analysis.
1. Indices may remain volatile for the next two days till fed interest rate decision.
2. As per the OI details, Nifty has highest call OI at 17100, so if Nifty sustain above 17100, we can see 17200. If it shows weakness at 17100 then we can see a tgt of 17000.
3. Bank Nifty has very high resistance @ 39500 so any move to 39500 can be sold into. tgt of 39250 -39000. Any consolidation at 39000 can be bought for a tgt of 39350.
4. Conservative traders may stay away from the market till this week expiry.
I AM NOT A SEBI REGISTERED TRADER. PLEASE USE THIS INFORMATION FOR EDUCATION PURPOSE AND TO ENHANCE YOUR DECISION MAKING.
1. US is looking positive. Europe is bearish due to credit suisse bank crisis. Asia is bearish.
2. The world market is very volatile due to banking crisis in US and Europe. This is showing in indian market also as the market remained extremely volatile making it difficult to trade due to stop loss being hit on either side.
3. India VIX is 16 indicating high volatility.
4. Nifty after hitting a low of 16800 closed @16988 which is below 17000.
5. Bank Nifty has however held up and closed above 39350 @39372.
6. SGX Nifty is indicating 71 points uptick at 17071. This amounts to 200 points move on bank nifty at 39550.
7. HDFC Bank and ICICI bank is bearish on daily chart.
8. reliance is very bearish.
9. Nifty has highest call OI at 17200 followed by 17100. Highest Put OI is at 17000.
10. Bank Nifty has highest call OI at 39500. Highest Put OI is at 39000.
Analysis.
1. Indices may remain volatile for the next two days till fed interest rate decision.
2. As per the OI details, Nifty has highest call OI at 17100, so if Nifty sustain above 17100, we can see 17200. If it shows weakness at 17100 then we can see a tgt of 17000.
3. Bank Nifty has very high resistance @ 39500 so any move to 39500 can be sold into. tgt of 39250 -39000. Any consolidation at 39000 can be bought for a tgt of 39350.
4. Conservative traders may stay away from the market till this week expiry.
I AM NOT A SEBI REGISTERED TRADER. PLEASE USE THIS INFORMATION FOR EDUCATION PURPOSE AND TO ENHANCE YOUR DECISION MAKING.
כתב ויתור
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