Bank Nifty Levels & Strategy for 05/09/2022

2022年9月2日

Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.

BANK NIFTY
Bank Nifty is up by 120 points. Bank Nifty remained sideways for most of time. PCR shifted up from 0.84 ( bearish zone) to 0.91 ( bearish zone). Call side OI is daily shifting up & down. Let us see when 38000 will be challenged amid ongoing global issues.

Highest open interest on call side at 39500 (Shifted down from 40000 to 39500)
Highest open interest on put side at 38000 (Remained at same level)

NIFTY
Nifty closed flat & closed by just -3.35 points. PCR shifted from 0.89 ( bearish zone) to 0.80 ( bearish zone). Trading in Nifty was easy & predictable. Nifty has followed the technical setup and gave opportunities to bulls as well bears and finally closed flat.

Highest open interest on call side at 18000 (Remained at same level)
Highest open interest on put side at 17000 (Remained at same level)

Shall we continue look for sell on rise opportunities near major resistance levels with strict SL? Or
Shall we look for buy on dips opportunities near major support levels till it is trading in a range?

Please do share your comments. Have a very happy, healthy & profitable day ahead!