Ad Unit 728 *90

Trending

recent

Canara Bank Analysis based on Open Interest for Intraday and Swing Trade 10 Feb 2020

Here we got CanBk for analysis for Intraday and Swing trade. We will analyse this stock on the basis of Open Interest and Change in Open Interest as well as Trend Cycles.

CanBk Option Front :
CanBk has given closing at 189.1 on 7th Feb 2020. Highest call open interest is at 200 strike price and highest Open interest at put side is at 190 strike. Some unwinding at call have side seen at 185 strike. Good put writing has been seen at 175 and strongest call writing has been seen 200 last day.
CanBk Option Chain

Trading Range Of CanBk
Now time to find out the trading range of the CanBk. For this purpose we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the CanBk. Options data indicated a trading range between 190 and 200 levels.

1. Highest Call at 200. 

2. Highest Put at 190. 



1. Pivot Strike at 190.


Highest call acts as the highest resistance and highest put will act as the highest support for the stocks.

Trend Cycles:
CanBk Trend Cycles

Conclusion:

On Trend Cycles CanBk is in Long-Long Cycles that indicates bullishness of it. On Option Chain 190 level is an important level. If CanBk sustains few minutes above 190 then we can seen aggressive short covering that may lead CanBk towards 200.



Disclaimer : The analysis is for educational purpose only. Please do your own analysis or ask your financial adviser for the same.
Canara Bank Analysis based on Open Interest for Intraday and Swing Trade 10 Feb 2020 Reviewed by Kumar Chandan on February 08, 2020 Rating: 5

No comments:

All Rights Reserved by Maine Bola Tha © 2020
Powered By Maine Bola Tha

Contact Form

Name

Email *

Message *

Powered by Blogger.