<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 and made a new lifetime high of 15,660, but it was unable to hold at higher levels and drifted towards the 15,528 marks.</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 opened positive but failed to hold above 35,700 level and remained negative to rangebound through the day. It failed to continue its positive streak of the last four sessions and closed the session in the negative with a loss of around 190 points.</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">2</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">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:#5e5e5e"> June </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">202</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e"> 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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">P</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">ain, 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">Bank Nifty Option Front</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>35337.20 </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">1</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">st</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"> June </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>202</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">34</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">35</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"> levels, while maximum Call OI was at </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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">00</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">6</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">00 </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">writing </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>35</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">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>35</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>4</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 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>35</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>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">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>35</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>3</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">witnessed significant put writing.</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">Trading Range Of Bank Nifty</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. The 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>34500 </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>36</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">.</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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%202nd%20June%202021/image/blogs-image/change-open-interest-bnf.jpg" /></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">1. Highest Call at </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">3</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">5</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">,</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">5</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">00. </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">2. Highest Put at </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">34,</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">0</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">00. </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">3. Pivot Level at </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">3</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">5</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">,5</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">00.</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">The </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">Highest call </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">highest resistance</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> 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">highest put </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">highest support</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">Pivot level</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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">lose </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">it 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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%202nd%20June%202021/image/feature-image/open-interest-bnf.jpg" style="height:480px; width:640px" /></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">Trading Range Of Nifty</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">15574</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">.</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">85 </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"> 1</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">st</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"> June </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>202</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><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 was seen at 15,000 level followed by 1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">5</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">,400, while maximum Call OI was seen at 1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">6</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">0</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 level followed by 15600. Call writing was seen at 15,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">6</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">50 and 15,6</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">strikes, while Put writing was 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:#000000"><strong>15,500</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:#000000"> then </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"><strong>15,600</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:#000000"> levels. The Option data suggests a trading range between </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"><strong>15,400</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:#000000"> 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:#000000"><strong>15,650</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:#000000"> 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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%202nd%20June%202021/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">1. Highest Call at </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">16000</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">. </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">2. Highest Put at </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">15,000</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">. </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">3. Pivot Level at </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">15,600</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">.</span></span></span></span></strong></span></span></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%202nd%20June%202021/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">India VIX</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 moved up </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"><strong>2.95</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:#000000"> percent 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:#000000"><strong>17.38</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:#000000"> level. The fear gauge is near its lowest point in 65 weeks since February 2020 and a Falling VIX could extend the bullish market momentum towards the new high territory.</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">Derivative Data</span></span></span></strong></span></p> <p style="text-align:left"><span style="font-family:Calibri"><strong> </strong></span></p> <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"> <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> </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"> <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> </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"> <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> </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"> <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> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <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">35</span></span></span><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">00</span></span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">35300</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">0.</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">72</span></span></span></p> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">5</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">550</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">15500</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.31</span></span></span></p> </td> </tr> </tbody> </table> <p style="text-align:left"> </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">Trend Cycles (EOD)</span></span></span></strong></span></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%202nd%20June%202021/image/blogs-image/bnf-cycles.PNG" /></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%202nd%20June%202021/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">Conclusion</span></span></span></strong></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">One can keep positive bias on the market and utilize the decline for a buyer.</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:#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></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">Disclaimer:</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> <p style="margin-right:18px; text-align:left"> </p> <p style="margin-right:18px; text-align:left"> </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">Nifty opened flat, and after seeing a slight dip in the initial hour, the bulls pulled the index back and it escalated throughout the day. The index touched yet another lifetime high of 15,606 and closed the session near the day’s high point, with a gain of around 150 points.</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 opened slightly negative and after touching a low of 34,930, it recovered and crossed the previous day’s high. Banking stocks managed to lift the index above the 35,500 level at its highest daily close of the 51 sessions with gains of around 400 points.</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">1</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">st</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">June </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">202</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e"> 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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">P</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">ain, 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">Bank Nifty Option Front</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>35526.6</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> </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">31</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">st</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"> May </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>202</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">4</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"> levels, while maximum Call OI was at </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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">00</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">6</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">00 </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">writing </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>35</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">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>35</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>6</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 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>35</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">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>35</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>4</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">witnessed significant put writing.</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">Trading Range Of Bank Nifty</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. The 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>34500 </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>36</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">.</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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%201st%20June%202021/image/blogs-image/change-open-interest-bnf.jpg" /></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">1. Highest Call at </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">3</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">5</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">,</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">5</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">00. </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">2. Highest Put at </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">3</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">5</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">,</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">0</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">00. </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">3. Pivot Level at </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">3</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">5</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">,5</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">00.</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"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%201st%20June%202021/image/feature-image/open-interest-bnf.jpg" /></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">The </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">Highest call </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">highest resistance</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> 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">highest put </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">highest support</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">Pivot level</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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">lose </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">it 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"> </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">Trading Range Of Nifty</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">15582</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">.</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">80 </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"> 31</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">st</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"> May </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>202</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><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 was seen at 15,400 level followed by 1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">5</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">,500, while maximum Call OI was seen at 1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">6</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">0</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 level followed by 15700. Call writing was seen at 15,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">6</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">50 and 15,7</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">strikes, while Put writing was 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:#000000"><strong>15,500</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:#000000"> then </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"><strong>15,600</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:#000000"> levels. Options data suggests a trading range between 15,500 and 15,700 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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%201st%20June%202021/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">1. Highest Call at </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">16000</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">. </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">2. Highest Put at </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">15,400</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">. </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">3. Pivot Level at </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">15,500</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">.</span></span></span></span></strong></span></span></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%201st%20June%202021/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">India VIX</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 </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"><strong>2.96</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:#000000"> percent to 16.88 levels. The fear gauge was at the lowest level in 65 weeks since February 2020 and a falling VIX is likely to extend the bullish market momentum towards the higher territory.</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">Derivative Data</span></span></span></strong></span></p> <p style="text-align:left"><span style="font-family:Calibri"><strong> </strong></span></p> <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"> <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> </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"> <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> </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"> <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> </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"> <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> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <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">35</span></span></span><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">00</span></span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">35000</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">0.</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">93</span></span></span></p> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">5</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">500</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">15400</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.51</span></span></span></p> </td> </tr> </tbody> </table> <p style="text-align:left"> </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">Trend Cycles (EOD)</span></span></span></strong></span></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%201st%20June%202021/image/blogs-image/bnf-cycles.PNG" /></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%201st%20June%202021/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">Conclusion</span></span></span></strong></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">One can keep positive bias on the market and utilize the decline for a buyer.</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:#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></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">Disclaimer:</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>
<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 with a gap up and the bulls cheered the Street to help Nifty hit an all-time high of 15,469 marks on the first day of the June F&O series. The index took support near the 15,400 level and yet again saw the highest daily close at 15,435 with gains of around 100 points</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">.</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 opened with a gap up and touched a high of 35,436 level during the day, but couldn’t hold and witnessed volatility during the session. It saw the highest daily close of the last 49 sessions and settled with a marginal gain of around 50 points.</span></span></span></span></span></p> <p> </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">31</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">st</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">May </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">202</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e"> 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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">P</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">ain, 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">Bank Nifty Option Front</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>35141</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>45</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">28</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">th</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">May </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>202</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">4</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>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, while maximum Call OI was at </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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">00</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">6</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">00 </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">writing </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>35200 </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>35300 </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>35000 </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>35200 </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 writing.</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">Trading Range Of Bank Nifty</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. The 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>34500 </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>36</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">.</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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2031st%20May%202021/image/blogs-image/change-open-interest-bnf.jpg" /></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">1. Highest Call at </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">3</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">5</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">,</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">5</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">00. </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">2. Highest Put at </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">3</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">5</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">,</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">0</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">00. </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">3. Pivot Level at </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">3</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">5</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">,</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">0</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">00.</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"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2031st%20May%202021/image/feature-image/open-interest-bnf.jpg" /></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">The </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">Highest call </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">highest resistance</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> 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">highest put </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">highest support</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">Pivot level</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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">lose </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">it 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"> </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">Trading Range Of Nifty</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">15435</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">.</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">6</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">5</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"> 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">8</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">th</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"> May </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>202</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><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 was seen at 15,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 level followed by 1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">5</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">0</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00, while maximum Call OI was seen at 1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">6</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">0</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 level followed by 15</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">5</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00. Call writing was seen at 15,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">6</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 and 15,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">400 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">strikes, while Put writing was 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:#000000"><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:#000000"><strong>4</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:#000000"><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:#000000"> then </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"><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:#000000"><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:#000000"><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:#000000"> levels. Options data suggests a trading range between 15,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 and 15,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">5</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2031st%20May%202021/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">1. Highest Call at </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">15</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">5</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">00</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">. </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">2. Highest Put at </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">15,</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">3</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">00</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">. </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">3. Pivot Level at </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">15,</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">4</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">00</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">.</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"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2031st%20May%202021/image/feature-image/open-interest-nifty.jpg" /></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">India VIX</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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">cooled down 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:#000000"><strong>12.59</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:#000000"> percent</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"> 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:#000000"><strong>17.40</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:#000000"> level. India VIX is at the lowest level of the last 65 weeks since February 2020 after its biggest single-day drop since November 25, 2020. A falling VIX is likely to extend the bullish market momentum towards a new high.</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">Derivative Data</span></span></span></strong></span></p> <p style="text-align:left"><span style="font-family:Calibri"><strong> </strong></span></p> <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"> <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> </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"> <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> </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"> <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> </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"> <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> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <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">35000</span></span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">-</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">0.75</span></span></span></p> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">54</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">00</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">-</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">32</span></span></span></p> </td> </tr> </tbody> </table> <p style="text-align:left"> </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">Trend Cycles (EOD)</span></span></span></strong></span></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2031st%20May%202021/image/blogs-image/bnf-cycles.PNG" /></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2031st%20May%202021/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">Conclusion</span></span></span></strong></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">One can keep positive bias on the market and utilize the decline for a buyer.</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:#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></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">Disclaimer:</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>
<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">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.</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">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.</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">2</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">7</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">th</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">May </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">202</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e"> 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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">P</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">ain, 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">Bank Nifty Option Front</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>34684.2</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>0</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">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">6</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">th</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">May </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>202</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">34</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>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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">4</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"> levels, while maximum Call OI was at </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">0</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">00</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">6</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">00 </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">writing </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>34</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>9</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">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>34800 </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>3</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>4</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>800 </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>34</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>7</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">witnessed significant put writing.</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">Trading Range Of Bank Nifty</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. The 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>34000 </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>35</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">.</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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2027th%20May%202021/image/blogs-image/change-open-interest-bnf.jpg" /></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">1. Highest Call at </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">3</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">5</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">,</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">0</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">00. </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">2. Highest Put at </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">34,5</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">00. </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">3. Pivot Level at </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">3</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">4</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">,7</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">00.</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"><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" /></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">The </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">Highest call </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">highest resistance</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> 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">highest put </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">highest support</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">Pivot level</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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">lose </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">it 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"> </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">Trading Range Of Nifty</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">15301</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">.45</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"> 26</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">th</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"> May </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>202</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><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 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.</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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2027th%20May%202021/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">1. Highest Call at </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">15</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">5</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">00</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">. </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">2. Highest Put at </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">15,000</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">. </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">3. Pivot Level at </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">15,300</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">.</span></span></span></span></strong></span></span></p> <p style="text-align:left"><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" /></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">India VIX</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 declined 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:#000000"><strong>1.50</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:#000000"> percent 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:#000000"><strong>18.84</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:#000000"> levels. India VIX needs to hold below 20 zones to extend the bullish market momentum towards new lifetime territory.</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">Derivative Data</span></span></span></strong></span></p> <p style="text-align:left"><span style="font-family:Calibri"><strong> </strong></span></p> <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"> <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> </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"> <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> </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"> <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> </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"> <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> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <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">34</span></span></span><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">5</span></span></span><span style="font-size:12.0000pt"><span style="font-family:Arial"><span style="color:#444444">00</span></span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">34100</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.06</span></span></span></p> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">5</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">200</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">15100</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">38</span></span></span></p> </td> </tr> </tbody> </table> <p style="text-align:left"> </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">Trend Cycles (EOD)</span></span></span></strong></span></p> <p style="text-align:left"> </p> <p style="text-align:left"> </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">Conclusion</span></span></span></strong></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">One can keep positive bias on the market and utilize the decline for a buyer.</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:#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></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">Disclaimer:</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>
<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 near the 15,000 level and witnessed sustain buying interest throughout the day. It crossed the psychologically important 15,000 marks and headed to the 15,190 level after a slight correction in the last two sessions.</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 opened positive and buying interest in all the banking stocks pulled the index towards 34,700 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">24</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">th</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">May </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">202</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e"> 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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">P</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">ain, 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">Bank Nifty Option Front</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>34606</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>90</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">21</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">st</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">May </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>202</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">33</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">4</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"> levels, while maximum Call OI was at </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">5</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></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">0</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">00</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">3</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">6</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">00 </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">writing </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>34700 </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>34800 </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>3</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>45</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">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>34600 </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 writing.</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">Trading Range Of Bank Nifty</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. The 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>34000 </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>35500</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="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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2024th%20May%202021/image/blogs-image/change-open-interest-bnf.jpg" /></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">1. Highest Call at </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">3</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">5</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">,</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">0</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">00. </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">2. Highest Put at </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">33,0</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">00. </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">3. Pivot Level at </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">3</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">4</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">,</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">5</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">00.</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"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2024th%20May%202021/image/feature-image/open-interest-bnf.jpg" /></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">The </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">Highest call </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">highest resistance</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> 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">highest put </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">highest support</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">Pivot level</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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">lose </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">it easily. The 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"> </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">Trading Range Of Nifty</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">15175</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">.</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">30</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">21</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">st</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">May </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>202</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><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 stood at 14,000 level followed by 14,500, while maximum Call OI was seen at 15,500 followed by 16,000 levels. Call writing was seen at strike prices 15,700 and 15,600 and Put writing at 15,000 and 15,100. Options data suggested a broader trading range between 14,800 and 15,400 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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2024th%20May%202021/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">1. Highest Call at </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">15</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">5</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">00</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">. </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">2. Highest Put at </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">14,</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">5</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">00</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">. </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">3. Pivot Level at </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">15,</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">1</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">00</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">.</span></span></span></span></strong></span></span></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2024th%20May%202021/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">India VIX</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 </span></span></span></span><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"><strong>2.90</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:#000000"> percent</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000"> 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:#000000"><strong>19.08 </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:#000000">level. India VIX needs to hold below 20 levels to extend the bullish market momentum towards a new lifetime high.</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">Derivative Data</span></span></span></strong></span></p> <p style="text-align:left"><span style="font-family:Calibri"><strong> </strong></span></p> <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"> <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> </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"> <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> </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"> <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> </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"> <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> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <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">34100</span></span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">33500</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.06</span></span></span></p> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">50</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">00</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">15000</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.</span></span><span style="font-size:12.0000pt"><span style="font-family:Arial">38</span></span></span></p> </td> </tr> </tbody> </table> <p style="text-align:left"> </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">Trend Cycles (EOD)</span></span></span></strong></span></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2024th%20May%202021/image/blogs-image/bnf-cycles.PNG" /></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2024th%20May%202021/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">Conclusion</span></span></span></strong></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">The buying has been seen in the dips. So, if there any correction comes in the market that can be used as a buying opportunity. </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:#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></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">Disclaimer:</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>
<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 flattish but failed to hold above 15,050 level as profit booking kicked in and continued through the day. The index breached the crucial support at the psychologically important 15,000 marks and corrected towards the 14,884 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 opened flat, but failed to hold above 33,750 level and fell towards the 33,300 marks.</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">21</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">st</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"> May </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">202</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">1</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e"> 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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">P</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#5e5e5e">ain, 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">Bank Nifty Option Front</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>33334.55 </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">20</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">th</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"> May </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>202</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">33</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><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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">32</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"> levels, while maximum Call OI was at </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">34</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></strong><strong><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">0</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">00</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">33</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>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">00 </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">writing </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>33500 </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>33400 </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>3</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>3</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>000 </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>3</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>3</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>100 </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 writing.</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">Trading Range Of Bank Nifty</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. The 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>3</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>3</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>000 </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>34000</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="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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2021st%20May%202021/image/blogs-image/change-open-interest-bnf.jpg" /></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">1. Highest Call at </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">34</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">,</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">0</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">00. </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">2. Highest Put at </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">33,0</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">00. </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">3. Pivot Level at </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">3</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">3</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">,0</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">00.</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">The </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">Highest call </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">highest resistance</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><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444"> 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">highest put </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">highest support</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">Pivot level</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 </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">lose </span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#444444">it easily. The 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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2021st%20May%202021/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">Trading Range Of Nifty</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">14906</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">.0</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">5</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"> 20</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">th</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"> May </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>202</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><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 stood at 14,000 level followed by 14,500 while maximum Call OI was seen at 15,000 level followed by 15,500. Call writing was seen at strike prices 15,000 and 15,500 while there was Put writing at 14,900 and 15,000 levels. Options data suggested a broader trading range between 14,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">8</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">00 and 15,</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">05</span></span></span></span><span style="font-size:12.0000pt"><span style="background-color:#ffffff"><span style="font-family:Arial"><span style="color:#000000">0 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/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2021st%20May%202021/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">1. Highest Call at </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">15300</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">. </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">2. Highest Put at </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">14,900</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">. </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">3. Pivot Level at </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">15,000</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">.</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"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2021st%20May%202021/image/feature-image/open-interest-nifty.jpg" /></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">India VIX</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 moved up 1.72% from 19.31 to 19.65 levels. The fear gauge needs to hold below 20 levels to extend the bullish market momentum.</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">Derivative Data</span></span></span></strong></span></p> <p style="text-align:left"><span style="font-family:Calibri"><strong> </strong></span></p> <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"> <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> </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"> <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> </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"> <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> </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"> <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> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <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">33500</span></span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">33500</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">0.83</span></span></span></p> </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"> <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> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:114px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">14900</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:169px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">15000</span></span></span></p> </td> <td style="border-bottom:2px solid black; border-left:none; border-right:2px solid black; border-top:none; vertical-align:top; width:142px"> <p style="text-align:justify"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:Arial">1.11</span></span></span></p> </td> </tr> </tbody> </table> <p style="text-align:left"> </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">Trend Cycles (EOD)</span></span></span></strong></span></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2021st%20May%202021/image/blogs-image/bnf-cycles.PNG" /></p> <p style="text-align:left"><img alt="" src="https://www.mainebolatha.in/media/Blog/Bank%20Nifty%20and%20Nifty%20Analysis%20for%2021st%20May%202021/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">Conclusion</span></span></span></strong></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">The market is witnessing the profit booking at a higher level and some short covers are seen in the lower levels so, you must look for your profit booking on the rise.</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:#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></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">Disclaimer:</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>