Opening with a gap in NIFTY! Monthly Expiry Day for the BANK NIFTY: Pre-Market Analysis Report


About Yesterday

Yesterday, NIFTY opened at 22,447 with a gap-up and then went down. After that, the index moved in a range of 65 points until the end of the day. At the end of the day, NIFTY was at 22,368, up 32 points, or 0.14%.

At the end of the day, U.S. stocks were up. It was also a green close on the European markets.


The Asian stock markets are going up.

The U.S. Futures market is not moving.

GIFT NIFTY is up 1 point at 22,448.

All of these things point to a gap-up opening in the market.

It is safe to buy NIFTY at 22,280, 22,200, and 22,000. At 22,440, 22,510, and 22,600, we can expect opposition.

You can buy BANKNIFTY at 47,800, 47,600, and 47,420. At 48,080, 48,160, and 48,300, we can expect opposition.

It is hard to make a call on NIFTY between 22,400 and 22,500. You can put a lot of money on the queue at 22,300. The PCR level is at 1.

At 48,000 and 48,500, BANKNIFTY has a high call OI resistance. At 48,000, there is a high put OI support. PCR is 0.89.

FPIs from outside India sold stock worth a total of Rs 3,004 crores on Friday. Indian institutional investors bought shares worth a total of Rs 2,918 crores.

The INDIA VIX fell 20% to 10.19, which was the second-lowest close in its history.

The NIFTY has become stuck at a Fibonacci level after its latest drop. It is having a hard time around the 22,450 mark.

There is still optimism in the market. Now that India’s big results season is over, it looks like a time to settle down before making a big move.

The fall in India VIX could mean that big players in the market are already making plans for the results of the election.

Today is the last day that BANKNIFTY can be used. At the present price of $48,000, the options data shows that there is a lot of straddle buildup. It is seen that the bonus is 300 points or more.

In other words, the index could handle up to 48,000 ± 300 moves. But after that, it would be very dangerous.

Do not believe the false idea that the VIX crash will instantly lower volatility. The price could still go up or down, especially for buyers with expiration dates.

Today, even if you are trading in NIFTY, keep an eye on BANKNIFTY and its levels!

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