11 June 2024

SGX Nifty is currently trading flat while Dow futures is nearly 0.3% up

SGX Nifty
Dow futures

Nifty Bank Nifty levels based on chart

Nifty 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 Chart

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 OI

Nifty has max pain at 17000 with max number of CE PE writing seen at 17000

Bank Nifty OI

Bank Nifty has max pain at 39500 with PE writing seen yesterday at 39500 BN will lead the upmove if any

FII data analysis

FII Data

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 !!!!

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