Today market opened with two news :-
1. RBL Negative news
2. Vaccination Booster dose positive news
I was also super bearish on the market at open and tried to take bearish stance. The result was getting SLAPPED by the market. No issues, but after second half market started
1. RBL Negative news
2. Vaccination Booster dose positive news
I was also super bearish on the market at open and tried to take bearish stance. The result was getting SLAPPED by the market. No issues, but after second half market started
to reverse and then went into bullish grip. So lets analyse the EOD data and see whats in store for us tmw. Lets observe 34500/35000/35500 strike and their OI. In below pictures u can see that even in 35500 PE (DEEP ITM) there is writing of 40k contract today.
While at the same time 34500CE (Deep ITM) unwounded to the tune of 50% means 3.20 lk contract. Even in 35000CE/PE , CE OI went up by 2 lk while PE OI went up by 10LK. A clear sign of bullish market for this expiry. Now lets try to find out what the chart are saying for BNF.
This weekly Expiry AVWAP is at 34862 and Yearly AVWAP is at 35166. We closed at 35150 today.
We broke YAWVAP for the first time on 20/12 and then made a low of 34175, from there we tried to regain YAVWAP with a GAP UP on 23/12 and made a high of 35550/- and then again fell to
We broke YAWVAP for the first time on 20/12 and then made a low of 34175, from there we tried to regain YAVWAP with a GAP UP on 23/12 and made a high of 35550/- and then again fell to
34300 today. Any gap up tmw morning will again clear YAVWAP of 35166, the first resistance will be around 35400 and if we cross 35600 then fast move towards 36000 is also possible.
All these view comes with SL of 34850, once this is taken on downside then all bets are off.
All these view comes with SL of 34850, once this is taken on downside then all bets are off.
Do remember all these are different views based on current condition of market and market doesnt moves on views . So we need to trade prices and be prepared to trade on both sides of the horizon.
Happy and safe trading !!!
Happy and safe trading !!!
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