Sunday, May 30, 2021

BankNifty Tomorrow ( 31 May) and weekly Outlook


BankNifty Outlook

Key  Data

Futures of BANKNIFTY

Closing Price35321.80
Price Change13.15
Change %0.0372
Future OI1724.40 K
OI Change %0.418
Future Contracts151.66 K
Contracts Change42.08

Put Call Ratio - 24/06/2021

Put Open Interest2266.65 K
Call Open Interest2743.07 K
PCR Open Interest0.826
PCR OI ReadingBearish
Put Contracts Traded156978.00
Call Contracts Traded176754.00
PCR Volume0.888
PCR Vol ReadingBearish

Put / Call Options

Call Max Traded Strike Price36000.00
Call Max Traded SP Contracts26704
Call Option Open Interest2743.07 K
Call Option OI Chg %13.18
Put Max Traded Strike Price35000.00
Put Max Traded SP Contracts30957
Put Option Open Interest2266.65 K
Put Option OI Chg %22.59

Price Outlook

banknifty ,

Friends as discussed on Wednesday that the recent correction should be utilized  for buying and a sharp reversal will be seen in the Banknifty from Thursday second half session. And Banknifty moved on our expectation.

Still trend is strong and we should away from shorting the BankNifty until we see a trend reversal.
As long as trend is sustaining we should remain with trend and every dip or normal routine correction should be utilized for buying opportunity.

For tomorrow we should remain with trend and in any dip we should prepared for long BankNifty. Highest CE open interest is created for the 36000 level in upside and highest open interest created for the put for the level of 35000 . Which means BankNifty will trade in between 35000-36000 level in upcoming week with bullish nature.
BankNifty can test 35984  in upcoming week and in downside 34551 will act as an important support.

Thanks for your Precious Time.

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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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