Bank Nifty And Nifty Analysis For 27Th May 2021

Bank Nifty and Nifty Analysis for 27th May 2021

The Nifty index opened with a gap up at 15,291 levels on Wednesday, but witnessed pressure at higher zones and consolidated in a broader range. The Bank Nifty opened on a positive note, but could not cross its previous day’s highs and moved in a range throughout the day. Let’s check the data and do the analysis for Bank Nifty and Nifty for 27th May 2021 based on <a href="https://www.mainebolatha.in/2020/05/volume-vs-open-interest-how-and-what-about-future-option-trading.html">Open Interest,</a> Change in OI, <a href="https://www.mainebolatha.in/2020/05/what-is-put-call-ratio-pcr-how-to-use-pcr-in-trading.html">PCR</a>, Max Pain, and Trend Cycles. Bank Nifty Option Front Bank Nifty has given closing at 34684.20 on spot on 26th May 2021. On the options front, maximum Put open interest was at 34,500 followed by 34,000 levels, while maximum Call OI was at 35,000 followed by 36,000 levels. The call writing has been seen at 34900 and 34800 levels whereas 34800 and 34700 witnessed significant put writing. Trading Range Of Bank Nifty 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. The trading range seems to be 34000 to 35000. <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2027th%20May%202021/image/blogs-image/change-open-interest-bnf.jpg" /> 1. Highest Call at 35,000.  2. Highest Put at 34,500.  3. Pivot Level at 34,700. <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2027th%20May%202021/image/feature-image/open-interest-bnf.jpg" /> The Highest call acts as the highest resistance and the highest put acts as the highest support for the Nifty and bank nifty. Pivot level is the level that bulls and bears don’t want to lose it easily. Tug of the war goes around the pivot level between bulls and bears generally.   Trading Range Of Nifty Nifty has given closing at 15301.45 on spot on 26th May 2021. On the options front, Maximum Put Open Interest was seen at 15,000 level followed by 14,500, while maximum Call OI was seen at 15,500 level followed by 15300. Call writing was seen at 15,300 and 15,350 strikes, while Put writing was seen at 15,200 then 15,100 levels. Options data suggests a trading range between 15,000 and 15,400 levels. <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2027th%20May%202021/image/blogs-image/change-open-interest-nifty.jpg" /> 1.  Highest Call at 15500.  2.  Highest Put at 15,000.  3. Pivot Level at 15,300. <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2027th%20May%202021/image/feature-image/open-interest-nifty.jpg" /> India VIX India VIX declined by 1.50 percent to 18.84 levels. India VIX needs to hold below 20 zones to extend the bullish market momentum towards new lifetime territory. Derivative Data   <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; font-family:"Times New Roman"; font-size:14px"> <tbody> <tr> <td style="border-bottom:2px solid black; border-left:2px solid black; border-right:2px solid black; border-top:2px solid black; vertical-align:top; width:142px"> Symbol </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:2px solid black; vertical-align:top; width:114px"> <a href="https://www.mainebolatha.in/2020/06/how-to-use-max-pain-in-trading.html">Max Pain</a> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:2px solid black; vertical-align:top; width:169px"> Pre. Max Pain </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:2px solid black; vertical-align:top; width:142px"> PCR (OI) </td> </tr> <tr> <td style="border-bottom:2px solid black; border-left:2px solid black; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> Bank Nifty </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> 34500 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 34100 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.06 </td> </tr> <tr> <td style="border-bottom:2px solid black; border-left:2px solid black; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> Nifty </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> 15200 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 15100 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.38 </td> </tr> </tbody> </table>   Trend Cycles (EOD)     Conclusion One can keep positive bias on the market and utilize the decline for a buyer. Open Interest Images are generated by the Telegram Bot: <a href="http://t.me/OIinAction_bot">OIinAction</a>. You can also join it and can generate OI images for free. Disclaimer: 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. Recommended Read:   <a href="https://www.mainebolatha.in/2020/05/how-to-detect-option-buyers-and-seller.html">How to detect Option Buyers or Sellers on Option Chain</a>

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Bank Nifty and Nifty Analysis for 27th May 2021