BANKNIFTY range setup for Aug 19th/25th Exp. Req a reversal turn
Overall Structure : Uptrend (Overbought)
Index components : Bullish Neutral Correlation
FGI Sentiments : Greedy - 80.21↓ Indian & 55↓ Global
Insider Data : Neutral, PCR: 1.09↓, IVP: 1↓, Low IV: 14.9↑, VIX: 17.35↓ (19/25)↓
↑Up : 40000, 40300, 40600, 40900.
↓Down : 39200, 38900, 38500, 38100.
Market Opening(*Expected): Gapdown
Activity : Short Buildup/Short Covering (rebalancing),
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Conclusion: Market is Overbought, May turn down at any higher level
~~~~~~~~~~~~~~~~~~~~~~~~~
***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88.6% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
(Data source@23:00 IST)**
Index components : Bullish Neutral Correlation
FGI Sentiments : Greedy - 80.21↓ Indian & 55↓ Global
Insider Data : Neutral, PCR: 1.09↓, IVP: 1↓, Low IV: 14.9↑, VIX: 17.35↓ (19/25)↓
↑Up : 40000, 40300, 40600, 40900.
↓Down : 39200, 38900, 38500, 38100.
Market Opening(*Expected): Gapdown
Activity : Short Buildup/Short Covering (rebalancing),
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Conclusion: Market is Overbought, May turn down at any higher level
~~~~~~~~~~~~~~~~~~~~~~~~~
***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88.6% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
(Data source@23:00 IST)**