Bank Nifty & Nifty Analysis
<p style="text-align:left"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">Nifty opened positive, but failed to conquer its short-term hurdle in the 11,300 as follow up buying was missing and drifted towards the 11,100 mark. It then witnessed some recovery from the lows, but the bounces got sold into at the intraday hurdle of 11,250. The index continued its losing streak for the fourth consecutive session and corrected more than 500 points from 11,600 to 11,088 level.</span></span></span></span></span></p>
<p style="text-align:left"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">Bank Nifty continued its weakness into the fourth consecutive session and drifted towards its key support at 21,000 level. It saw a breakdown below the 22,000 mark and after that corrected around 1,000 points to touch a key support at 21,000 level.</span></span></span></span></span></p>
<p style="text-align:left"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">Le</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">t’s check the data and do the analysis for Bank Nifty and Nifty for </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">23</span></span></span></span><sup><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">rd</span></span></span></span></sup><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e"> September </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">2020 based on </span></span></span></span><a href="https://www.mainebolatha.in/2020/05/volume-vs-open-interest-how-and-what-about-future-option-trading.html"><u><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#3faaff"><u>Open Interest,</u></span></span></span></span></u></a><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e"> Change in OI, </span></span></span></span><a href="https://www.mainebolatha.in/2020/05/what-is-put-call-ratio-pcr-how-to-use-pcr-in-trading.html"><u><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#3faaff"><u>PCR</u></span></span></span></span></u></a><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">, Max pain and Trend Cycles.</span></span></span></span></span></p>
<p style="text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>Bank Nifty Option Front</strong></span></span></span></span></strong></span></span></p>
<p style="text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">Bank Nifty has given closing at </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>21139</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>.</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>10</strong></span></span></span></span></strong><strong> </strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">on spot on </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">22</span></span></span></span><sup><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">nd</span></span></span></span></sup><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> September </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>2020</strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">. On the options front, maximum Put open interest was at </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>21</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>,</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>0</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>00</strong></span></span></span></span></strong><strong> </strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">followed by </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>20</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>,</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>0</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>00</strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> levels, while maximum Call OI was at 2</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">2</span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>,</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>0</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>00 </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">followed by </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>2</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>1</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>,</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>5</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>00 </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">levels. </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">The call </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">addition </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">has been seen at </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>21500 </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">and </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>21200 </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">levels whereas </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>21500 </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">and </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>21400 </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">witnessed significant put </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">unwinding</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">. </span></span></span></span></span></span></p>
<p style="text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%2023rd%20September%202020/image/blogs-image/change-open-interest-bnf.jpg" /></span></span></span></span></span></span></p>
<p style="text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>Trading Range Of Bank Nifty</strong></span></span></span></span></strong></span></span></p>
<p style="text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">Now time to find out the trading range of the bank nifty. Trading Range is a general range between the highest call strike and highest put strike. To find the range, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the Bank Nifty. Trading range seems to be </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>2</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>0500 </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">to </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>22000</strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">.</span></span></span></span></span></span></p>
<p style="margin-left:48px; text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>1. Highest Call at 2</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>2</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>,</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>0</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>00. </strong></span></span></span></span></strong></span></span></p>
<p style="margin-left:48px; text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>2. Highest Put at </strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>21</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>,</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>0</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>00. </strong></span></span></span></span></strong></span></span></p>
<p style="margin-left:48px; text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>3. Pivot Level at 2</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>1,0</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>00.</strong></span></span></span></span></strong></span></span></p>
<p style="text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>Highest call </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">acts as the </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>highest resistance</strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> and </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>highest put </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">acts as the </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>highest support</strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> for the Nifty and bank nifty. </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>Pivot level</strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> is the level that bulls and bears don’t want to let it go easily. Tug of the war goes around the pivot level between bulls and bears generally.</span></span></span></span></span></span></p>
<p style="text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"> <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%2023rd%20September%202020/image/feature-image/open-interest-bnf.jpg" /></span></span></p>
<p style="text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>Trading Range Of Nifty</strong></span></span></span></span></strong></span></span></p>
<p style="text-align:left"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">Nifty has given closing at </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>11153</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>.65 </strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">on spot on </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">22</span></span></span></span><sup><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">nd</span></span></span></span></sup><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> September </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>2020</strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">. </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">On the options front, maximum Put open interest (OI) stood at 11,000 level followed by 10,500, while maximum Call OI was at 11,500 followed by 11,600 levels. There was Call writing at strike prices 11,200 and 11,300 levels followed by Put writing at 11,000 and 11,100. Options data suggested a wider trading range between 11,000 and 11,300 levels.</span></span></span></span></span></p>
<p style="text-align:left"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"><img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%2023rd%20September%202020/image/blogs-image/change-open-interest-nifty.jpg" /></span></span></span></span></span></p>
<p style="text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>1. Highest Call at 1</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>15</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>00. </strong></span></span></span></span></strong></span></span></p>
<p style="text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>2. Highest Put at </strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>11,000</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>. </strong></span></span></span></span></strong><br />
<strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>3. Pivot Level at </strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>11,200</strong></span></span></span></span></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>.</strong></span></span></span></span></strong></span></span></p>
<p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%2023rd%20September%202020/image/feature-image/open-interest-nifty.jpg" /></p>
<p style="text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>India VIX</strong></span></span></span></span></strong></span></span></p>
<p style="text-align:left"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">India VIX fell <strong>3.52</strong> per cent to <strong>21.41 </strong>level. The slight cooling down of volatility despite the weakness in the market indicates some sort of a rangebound move in the coming sessions with the upside capped.</span></span></span></span></span></p>
<p style="text-align:left"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444"><strong>Derivative Data</strong></span></span></span></strong></span></p>
<p style="text-align:left"><span style="font-family:Calibri"><strong> </strong></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">Symbol</span></span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial"><a href="https://www.mainebolatha.in/2020/06/how-to-use-max-pain-in-trading.html">Max Pain</a></span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">Pre. Max Pain</span></span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">PCR (OI)</span></span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">Bank Nifty</span></span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">21500</span></span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">22000</span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">0.65</span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">Nifty</span></span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">11250</span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">11400</span></span></span></p>
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<p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.03</span></span></span></p>
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<p style="text-align:left"><span style="font-family:Calibri"><strong> </strong></span></p>
<p style="text-align:left"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#4c4c4c"><strong>Trend Cycles (EOD)</strong></span></span></span></strong></span></p>
<p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%2023rd%20September%202020/image/blogs-image/bnf-cycles.PNG" /></p>
<p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%2023rd%20September%202020/image/feature-image/nify-cycles.PNG" /></p>
<p style="text-align:left"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#4c4c4c"><strong>Conclusion</strong></span></span></span></strong></span></p>
<p style="text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">The range of the bank nifty and nifty have been shifted down. Support and Pivot strikes of the both indices have been shifted down. These all indicates bearishness. Now, for bank nifty, 21000 going to be very very important level for bulls and on Nifty is 11300. Overall, sentiment is bearish now.</span></span></span></span></span></span></p>
<p style="text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">Open Interest Images are generated by the Telegram Bot: </span></span></span></span><a href="http://t.me/OIinAction_bot"><u><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#3faaff"><u>OIinAction</u></span></span></span></span></u></a><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">. You</span></span></span></span> <span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">can also join it and can generate OI images for free.</span></span></span></span></span></span></p>
<p style="margin-right:18px; text-align:justify"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"><strong>Disclaimer:</strong></span></span></span></span></strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> The analysis has been prepared for informational and educational purposes only. It is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.</span></span></span></span></span></span></p>
<p style="margin-right:18px; text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#4c4c4c"><strong>Recommended Read:</strong></span></span></span></span></strong></span></span></p>
<p style="margin-right:18px; text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"> </span></span></p>
<p style="margin-right:18px; text-align:left"><span style="background-color:#ffffff"><span style="font-family:Calibri"><a href="https://www.mainebolatha.in/2020/05/how-to-detect-option-buyers-and-seller.html"><u><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#ffc000"><u>How to detect Option Buyers or Sellers on Option Chain</u></span></span></span></span></u></a></span></span></p>
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Nifty opened positive, but failed to conquer its short-term hurdle in the 11,300 as follow up buying was missing and drifted towards the 11,100 mark.…
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