NIFTY AND BANK NIFTY ANALYSIS FOR 27 DEC 2022
27 DEC 2022 2000 hrs.
1. Today US markets were closed. Europe and Asia is flat.
2. Today we had a good 1 % bounce back in Nifty and 2 odd % in bank nifty. However Bank Nifty move was a surprise.
3. However structure. of the market is still bearish.
4. India VIX is at 16 Levels indicating volatility and bullishness, since volatility has increased with market positive move. There was a broad based rally.
4. Reliance did not move much and still remain oversold.
5. HDFC Bank and ICICI Bank was very bullish and wiped out all its losses. SBI and Axis Bank also moved 4% and 2% resply.
6. Surprisingly FII have sold for 475 cr. where as DII has bought 1200 Cr. However FII has bought 1000 odd crore of index options.
7. Highest call OI is at 43000 followed by 42900 to 42700. Highest put OI is at 42000 followed by 42500.
8. For Nifty highest call OI is at 18200 followed by 18000. Highest Put OI is at 17900.
9. SGX Nifty is indicating flat opening with 18 points cut.
Analysis.
1. Today's move was a surprise move.
2. Nifty has resistance at 18100 -18200 levels.
3. bank Nifty has resistance at 42700 levels.
4. I remain bearish on bank nifty and nifty. I will use any up move to sell for a tgt of 42500 in bank nifty and 17900 levels in Nifty.
5. if market gap down to 42500 levels and stabilise then we can buy . similarly any dip of nifty to 17900 will be a buying opportunity.
6. we may expect bank nifty to trade between 43000 - 42500 and nifty between 17800 - 18200 range till expiry.
1. Today US markets were closed. Europe and Asia is flat.
2. Today we had a good 1 % bounce back in Nifty and 2 odd % in bank nifty. However Bank Nifty move was a surprise.
3. However structure. of the market is still bearish.
4. India VIX is at 16 Levels indicating volatility and bullishness, since volatility has increased with market positive move. There was a broad based rally.
4. Reliance did not move much and still remain oversold.
5. HDFC Bank and ICICI Bank was very bullish and wiped out all its losses. SBI and Axis Bank also moved 4% and 2% resply.
6. Surprisingly FII have sold for 475 cr. where as DII has bought 1200 Cr. However FII has bought 1000 odd crore of index options.
7. Highest call OI is at 43000 followed by 42900 to 42700. Highest put OI is at 42000 followed by 42500.
8. For Nifty highest call OI is at 18200 followed by 18000. Highest Put OI is at 17900.
9. SGX Nifty is indicating flat opening with 18 points cut.
Analysis.
1. Today's move was a surprise move.
2. Nifty has resistance at 18100 -18200 levels.
3. bank Nifty has resistance at 42700 levels.
4. I remain bearish on bank nifty and nifty. I will use any up move to sell for a tgt of 42500 in bank nifty and 17900 levels in Nifty.
5. if market gap down to 42500 levels and stabilise then we can buy . similarly any dip of nifty to 17900 will be a buying opportunity.
6. we may expect bank nifty to trade between 43000 - 42500 and nifty between 17800 - 18200 range till expiry.
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