Nifty Bank IndexShort
NIFTY 50 & BANKNIFTY Prediction: 07 November 2024
Nifty shows the confirmation of a bullish piercing candle. Banknifty forms the like of a doji candle. It is on the trendline from where rejection may be possible. Nifty has big resistance at 24500 and 24800 and it didn't have any strong support nearby ATM. Banknifty has resistance at 52500 and 53000 and support at 52000.
Option Chain: Nifty has resistance at 24500 around 100 Cr contracts exist. Even after yesterday's rally a large amount of contracts have been added in call side at 24500. Which shows bearishness in the market. Banknifty has some resistance at 52500 and 53000. The new fresh contract has also been added at this level.
PCR: The overall PCR of Nifty is 0.85 and the nearby ATM is 0.59 --> Bearish view
Banknifty overall PCR is 0.83 and nearby ATM is 0.73. --> Neutral
OI Data: FII betting on a neutral market.
Pro shorts calls of 4.75 L and shorts puts 3.6 L.
Client shorts put 7.5 L and shorts call of 1.6 L.
Future Data: FII sold 482 Cr future which shows a bearish view.
FII Stock data: Even aftermarket shows a rally, FIIs still sell the future 4450 Cr future which shows that the market may go down. --> Bearish
Trade: A bearish move may be possible and it may be continued.
Option Chain: Nifty has resistance at 24500 around 100 Cr contracts exist. Even after yesterday's rally a large amount of contracts have been added in call side at 24500. Which shows bearishness in the market. Banknifty has some resistance at 52500 and 53000. The new fresh contract has also been added at this level.
PCR: The overall PCR of Nifty is 0.85 and the nearby ATM is 0.59 --> Bearish view
Banknifty overall PCR is 0.83 and nearby ATM is 0.73. --> Neutral
OI Data: FII betting on a neutral market.
Pro shorts calls of 4.75 L and shorts puts 3.6 L.
Client shorts put 7.5 L and shorts call of 1.6 L.
Future Data: FII sold 482 Cr future which shows a bearish view.
FII Stock data: Even aftermarket shows a rally, FIIs still sell the future 4450 Cr future which shows that the market may go down. --> Bearish
Trade: A bearish move may be possible and it may be continued.
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