Blogs

Kumar Chandan

Bank Nifty & Nifty Analysis
Feb. 11, 2021, 9:40 p.m.

Bank Nifty and Nifty Analysis for 12th February 2021

Nifty opened negative and remained in a range of 100 points as buying emerged on declines throughout the day and closed the session with a gain of around 70 points. Bank Nifty opened negative and moved sideways and is witnessing some underperformance over the past few sessions. The banking index did not see much momentum and settled the day flat with a loss of around 30 points. Let’s check the data and do the analysis for Bank Nifty and Nifty for 12th February 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 35752.10 on spot on 11th February 2021. On the options front, maximum Put open interest was at 35,000 followed by 34,000 levels, while maximum Call OI was at 36,000 followed by 36,000 levels. The call addition has been seen at 35800 and 35700 levels whereas 35500 and 35700 witnessed significant put writing. <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2012th%20February%202021/image/blogs-image/change-open-interest-bnf.jpg" /> 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 35000 to 37000. 1. Highest Call at 36,000.  2. Highest Put at 34,000.  3. Pivot Level at 35,700. Highest call acts as the highest resistance and 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 let it go easily. Tug of the war goes around the pivot level between bulls and bears generally.  <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2012th%20February%202021/image/feature-image/open-interest-bnf.jpg" /> Trading Range Of Nifty Nifty has given closing at 15173.30 on spot on 11th February 2021. On the options front, maximum Put Open Interest was seen at strike price 14,000 followed by 13,500 while maximum Call OI was at 16,000 followed by 15,500. There was Put writing at strike prices 14,500 and 15,000 while Call writing was seen at 16,300 and 16,100 levels. Options data suggested a wider trading range between 14,500 and 15500 levels, while the immediate range is seen between 15,000 and 15,300 levels. <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2012th%20February%202021/image/blogs-image/change-open-interest-nifty.jpg" /> 1.  Highest Call at 15500.  2.  Highest Put at 14,000.  3. Pivot Level at 15,100. <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2012th%20February%202021/image/feature-image/open-interest-nifty.jpg" /> India VIX India VIX cooled down 3.78 per cent5 to 23.04 levels. Now, it needs to cool down and hold below 20 levels for the continuation of the ongoing momentum with a higher market base. 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"> 35700 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> - </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 0.89 </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"> 15150 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> - </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.36 </td> </tr> </tbody> </table>   Trend Cycles (EOD) <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2012th%20February%202021/image/blogs-image/bnf-cycles.PNG" /> <img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2012th%20February%202021/image/feature-image/nify-cycles.PNG" /> Conclusion The major trend is positive and a decline could be bought again. India VIX was up but the bullish undertone of the market is intact. The put-call ratio has increased with put writing at immediate strikes. 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>      <gdiv></gdiv>

Kumar Chandan

Bank Nifty & Nifty Analysis
Feb. 8, 2021, 9:20 p.m.

Nifty and Bank Nifty Analysis for 9th February 2021

Nifty opened with a gap-up above the 15,000 level and traded well at higher levels. It again touched a new lifetime high of 15,159 during the session. It moved in a range of 100 points and concluded the session with a gain of around 200 points. Bank Nifty opened with a gap up, but moved quite steadily during the session. It moved sideways and consolidated for most part of the day. The banking index did not surpass the previous day’s high, but ended the day with a gain of around 330 points. Let’s check the data and do the analysis for Bank Nifty and Nifty for 9th February 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 35983.65 on spot on 8th February 2021. On the options front, maximum Put open interest was at 34,000 followed by 34,500 levels, while maximum Call OI was at 37,000 followed by 36,500 levels. The call unwinding has been seen at 35500 and 35700 levels whereas 35500 and 36000 witnessed significant put writing. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%209th%20February%202021/image/blogs-image/change-open-interest-bnf.jpg" /> 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. Trading range seems to be 35000 to 37000. 1. Highest Call at 37,000.  2. Highest Put at 34,000.  3. Pivot Level at 36,000. Highest call acts as the highest resistance and 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 let it go easily. Tug of the war goes around the pivot level between bulls and bears generally.  <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%209th%20February%202021/image/feature-image/open-interest-bnf.jpg" /> Trading Range Of Nifty Nifty has given closing at 15115.80 on spot on 8th February 2021. On the options front, maximum Put open interest stood at 14,000 level, followed by 14,500, while maximum Call OI stood at 15,500 followed by 15,300 levels. Call liquidation was seen at 14,900 and then 15,000 levels, while there was Put writing at strike prices 15,000 and 15,100. Options data suggested an immediate trading range between 15,000 and 15,200 levels. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%209th%20February%202021/image/blogs-image/change-open-interest-nifty.jpg" /> 1.  Highest Call at 15500.  2.  Highest Put at 14,000.  3. Pivot Level at 15,100. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%209th%20February%202021/image/feature-image/open-interest-nifty.jpg" /> India VIX India VIX surged 2.30 per cent to 23.95 level. Now, VIX needs to cool down and hold below 20 level for the continuation of the ongoing momentum with a higher market base. 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"> 35800 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 35500 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.02 </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"> 15000 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 14900 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.52 </td> </tr> </tbody> </table>   Trend Cycles (EOD) <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%209th%20February%202021/image/blogs-image/bnf-cycles.PNG" /> <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%209th%20February%202021/image/feature-image/nify-cycles.PNG" /> Conclusion The major trend is positive, and any decline could be rebought. India VIX was up but the bullish undertone of the market is intact. The put-call ratio has increased with put writing at immediate strikes. 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> again another time, repeating More (Definitions, Synonyms, Translation) <gdiv></gdiv>

Kumar Chandan

Stock Analysis
Feb. 7, 2021, 9:07 p.m.

JSW Steel - Analysis Based on Open Interest and Trend Cycles for Intraday and Swing Trading

JSW Steel is the stock that we are going to analyse today based on <a href="https://www.mainebolatha.in/2020/01/how-do-i-analyse-open-interest.html">Open Interest and Change in Open Interest</a> for swing as well as Intraday Trade. We also check the Trend Cycles of it. Before this, we have analyzed Kotak Bank&ensp;: <a href="https://www.mainebolatha.in/2021/01/kotak-bank-analysis-based-on-open-interest-and-trend-cycles-for-intraday-and-swing-trading/" target="_blank">You can check here.</a>   JSW Steel Option Front : JSW Steel has given closing at 403.0 on 5th February 2021. Highest call open interest is at 400 strike price, followed by 410 and highest Open interest at put side is at 350 strike followed by 360. Good call addition has been seen at 410 and 420 strikes. <img alt="" src="https://www.mainebolatha.in/media/Blog/JSW%20Steel%20-%20Analysis%20Based%20on%20Open%20Interest%20and%20Trend%20Cycles%20for%20Intraday%20and%20Swing%20Trading/image/blogs-image/change-jsw.jpg" /> Trading Range Of JSW Steel Now time to find out the trading range of the JSW Steel. For this purpose, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the JSW Steel. Trading range seems to be 380 to 440.   1. Highest Call at 410.  2. Highest Put at 350.  1. Pivot Strike at 400. Highest call acts as the highest resistance and highest put will act as the highest support for the stocks. <img alt="" src="https://www.mainebolatha.in/media/Blog/JSW%20Steel%20-%20Analysis%20Based%20on%20Open%20Interest%20and%20Trend%20Cycles%20for%20Intraday%20and%20Swing%20Trading/image/feature-image/jsw-oi.jpg" /> Trend Cycles <img alt="" src="https://www.mainebolatha.in/media/Blog/JSW%20Steel%20-%20Analysis%20Based%20on%20Open%20Interest%20and%20Trend%20Cycles%20for%20Intraday%20and%20Swing%20Trading/image/blogs-image/jsw-trend-cycles.PNG" /> Conclusion: JSW Steel is near a very important level that is 400. If it sustains above 400 then some move towards 410, 420 and 450 can be seen. And it is if unable to sustain above the support at 400, some sell-off can take it towards 390 and 380. This may take 6 to 7 trading days to happen. JSW Steel looks strong in the trend cycles with long build-ups. A few more long may take JSW Steel to 420 else if JSW steel may go towards 380. These all depends on the pivot level 400 as it is the make or break level for the JSW Steel.     <table align="center" cellspacing="0" class="Table" style="border-collapse:collapse; border:none; font-family:"Times New Roman"; font-size:14px"> <tbody> <tr> <td style="background-color:#ffffff; border-bottom:none; border-left:none; border-right:none; border-top:none; vertical-align:top; width:690px"> 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. </td> </tr> </tbody> </table>    You can check here<a href="https://www.mainebolatha.in/search/label/Bank Nifty & Nifty Analysis?max-results=20">&ensp;Daily Nifty and Bank Nifty Analysis.</a> <a href="https://www.mainebolatha.in/search/label/Meet a Pro Trader?&max-results=9">Learn From Pro traders</a>   <gdiv></gdiv>

Kumar Chandan

Bank Nifty & Nifty Analysis
Feb. 7, 2021, 8:29 p.m.

Nifty and Bank Nifty Analysis for 8th February 2021

Nifty opened on a positive note and marked the day’s high in the first hour of the day and tested its own historical mark of 15,000 and saw a corrective retracement before ending with a modest gain. After that, it pared all its opening gains to dip modestly in the negative. It recovered again to trade in the green but never really made any major move on either side. Bank Nifty made a gap-up opening and made a new life-time high of 36,615 but could not sustain at higher levels. It cascaded and ended the day with a gain of around 300 points, but lost all its intraday swing of 1,000 points from higher zones. Let’s check the data and do the analysis for Bank Nifty and Nifty for 8th February 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 35654.50 on spot on 5th February 2021. On the options front, maximum Put open interest was at 34,000 followed by 35,000 levels, while maximum Call OI was at 37,000 followed by 36,500 levels. The call unwinding has been seen at 35500 and 35300 levels whereas 35500 and 35000 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. Trading range seems to be 34000 to 37000. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%208th%20February%202021/image/blogs-image/change-open-interest-bnf.jpg" /> 1. Highest Call at 37,000.  2. Highest Put at 34,000.  3. Pivot Level at 35,500. Highest call acts as the highest resistance and 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 let it go easily. Tug of the war goes around the pivot level between bulls and bears generally.  <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%208th%20February%202021/image/feature-image/open-interest-bnf.jpg" /> Trading Range Of Nifty Nifty has given closing at 14924.25 on spot on 5th February 2021. On the options front, maximum Put open interest stood at 14,000 level, followed by 14,500, while maximum Call OI stood at 15,500 followed by 15,000 levels. Call writing was seen at 14,900 and then 14,950 levels, while there was Put writing at strike prices 14,900 and 14,800. Options data suggested an immediate trading range between 14,800 and 15,100 levels. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%208th%20February%202021/image/blogs-image/change-open-interest-nifty.jpg" /> 1.  Highest Call at 15500.  2.  Highest Put at 14,500.  3. Pivot Level at 14,900. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%208th%20February%202021/image/feature-image/open-interest-nifty.jpg" /> India VIX India VIX surged by 1.28 per cent to 23.41. Now, the VIX index needs to cool down and hold below 20 zones for continuation in the ongoing momentum with a higher market base. 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"> 35500 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 34600 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.17 </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"> 14900 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 14800 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.41 </td> </tr> </tbody> </table>   Trend Cycles (EOD) <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%208th%20February%202021/image/blogs-image/bnf-cycles.PNG" /> <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%208th%20February%202021/image/feature-image/nify-cycles.PNG" /> Conclusion The major trend is positive, and any decline could be rebought. India VIX was up but the bullish undertone of the market is intact. The put-call ratio has increased with put writing at immediate strikes. 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>      <gdiv></gdiv>

Kumar Chandan

Bank Nifty & Nifty Analysis
Feb. 4, 2021, 9:07 p.m.

Nifty and Bank Nifty Analysis for 5th February 2021

Nifty opened flat and witnessed some profit booking in the initial hour, but that dip got bought into smartly during the rest of the session and took the index towards the 14,900 level. The session ended with some consolidation, and gains of around 100 points to its highest-ever close. Bank Nifty opened negative, but managed to hold support at 34,250 level and the bullish momentum in all the banking stocks drove the index above the 35,400 mark. There was bullishness across the sector and the index closed with a gain of around 600 points. Let’s check the data and do the analysis for Bank Nifty and Nifty for 5th February 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 35244.80 on spot on 4th February 2021. On the options front, maximum Put open interest was at 34,000 followed by 35,000 levels, while maximum Call OI was at 36,000 followed by 35,500 levels. The call addition has been seen at 34500 and 34300 levels whereas 34500 and 35000 witnessed significant put writing. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%205th%20February%202021/image/blogs-image/change-open-interest-bnf.jpg" /> 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. Trading range seems to be 34500 to 36000. 1. Highest Call at 36,000.  2. Highest Put at 34,000.  3. Pivot Level at 35,000. Highest call acts as the highest resistance and 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 let it go easily. Tug of the war goes around the pivot level between bulls and bears generally.  <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%205th%20February%202021/image/feature-image/open-interest-bnf.jpg" /> Trading Range Of Nifty Nifty has given closing at 14895.65 on spot on 4th February 2021. On the options front, maximum Put open interest stood at 14,500 level, followed by 14,700, while maximum Call OI stood at 15,000 followed by 15,500 levels. Call writing was seen at 14,900 and then 15,000 levels, while there was Put writing at strike prices 14,800 and 14,700. Options data suggested an immediate trading range between 14,800 and 15,100 levels. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%205th%20February%202021/image/blogs-image/change-open-interest-nifty.jpg" /> 1.  Highest Call at 15000.  2.  Highest Put at 14,500.  3. Pivot Level at 14,900. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%205th%20February%202021/image/feature-image/open-interest-nifty.jpg" /> India VIX India VIX cooled off 2.60 per cent to 23.12 level. Now, VIX needs to cool down and hold below 20 level for continuation of the ongoing momentum at a higher market base. 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"> 34600 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 34000 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.28 </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"> 14800 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 14700 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.14 </td> </tr> </tbody> </table>   Trend Cycles (EOD) <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%205th%20February%202021/image/blogs-image/bnf-cycles.PNG" /> <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%205th%20February%202021/image/feature-image/nify-cycles.PNG" /> Conclusion The market has turned bullish as the range of the market, resistance, support and pivot strikes have been shifted up. 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>      <gdiv></gdiv>

Kumar Chandan

Bank Nifty & Nifty Analysis
Feb. 3, 2021, 9:14 p.m.

Nifty and Bank Nifty Analysis for 4th February 2021

Nifty opened with gap up, continued the winning streak for the third consecutive session and touched yet another lifetime high of 14,868. The second half of the session saw some consolidation and the index finally closed with a gain of around 140 points. Bank Nifty opened with a gap up and continued its upward journey to touch 34,908 level. Banking stocks soared higher and held the rate-sensitive index at higher levels. It closed with a gain of around 500 points. Let’s check the data and do the analysis for Bank Nifty and Nifty for 4th February 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 34758.45 on spot on 3rd February 2021. On the options front, maximum Put open interest was at 33,000 followed by 34,000 levels, while maximum Call OI was at 35,000 followed by 36,000 levels. The call unwinding has been seen at 34500 and 34000 levels whereas 34500 and 34700 witnessed significant put writing. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%204th%20February%202021/image/blogs-image/change-open-interest-bnf.jpg" /> 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. Trading range seems to be 34000 to 35500. 1. Highest Call at 35,000.  2. Highest Put at 33,000.  3. Pivot Level at 34,500. Highest call acts as the highest resistance and 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 let it go easily. Tug of the war goes around the pivot level between bulls and bears generally.  <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%204th%20February%202021/image/feature-image/open-interest-bnf.jpg" /> Trading Range Of Nifty Nifty has given closing at 14789.95 on spot on 3rd February 2021. On the options front, maximum Put open interest stood at 14,500 level, followed by 14,700, while maximum Call OI stood at 15,000 followed by 14,800 levels. Call writing was seen at 14,850 and then 14,950 levels, while there was Put writing at strike prices 14,500 and 14,600. Options data suggested an immediate trading range between 14,800 and 14,700 levels. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%204th%20February%202021/image/blogs-image/change-open-interest-nifty.jpg" /> 1.  Highest Call at 15000.  2.  Highest Put at 14,500.  3. Pivot Level at 14,800. <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%204th%20February%202021/image/feature-image/open-interest-nifty.jpg" /> India VIX India VIX rose 1.74 per cent to 23.74 levels. Now, it needs to cool down and hold below 20 level for a continuation in the ongoing momentum. 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"> 34000 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 33500 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.54 </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"> 14700 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> 14500 </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> 1.45 </td> </tr> </tbody> </table>   Trend Cycles (EOD) <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%204th%20February%202021/image/blogs-image/bnf-cycles.PNG" /> <img alt="" src="https://www.mainebolatha.in/media/Blog/Nifty%20and%20Bank%20Nifty%20Analysis%20for%204th%20February%202021/image/feature-image/nify-cycles.PNG" /> Conclusion The market has turned bullish as the range of the market, resistance, support and pivot strikes have been shifted up. 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> <gdiv></gdiv>

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