SGX Nifty is currently trading flat while Dow futures is nearly 0.3% up
Nifty Bank Nifty levels based on chart
Nifty was comparatively weak yesterday and closed in red heavy selling in Adani Stocks support for Nifty is 16930-40 Resistance at 17020
Bank Nifty support at 39490 Resistance at 39740. Bank Nifty is comparatively strong eyes on Kotak and HDFCBANK for momentum to continue.
Nifty Bank Nifty levels based on OI
Nifty has max pain at 17000 with max number of CE PE writing seen at 17000
Bank Nifty has max pain at 39500 with PE writing seen yesterday at 39500 BN will lead the upmove if any
FII data analysis
Retails and FIIs are in alignment i.e both are holding shorts with FII holding positional shorts around 4.5 lakh naked PE which they have to close today. yesterday’s cash data is promising with FIIs being net buyers around 1100 crores. Buying the dip in BN can be rewarding near support zones of 39380-420
Happy Trading !!!!
