Monday, May 31, 2021

BankNifty Tomorrow for 01 June 21

 

BankNifty Outlook


Key  Data

Futures of BANKNIFTY

Closing Price35602.90
Premium/Discount76.30
Price Change281.10
Change %0.796
Future OI1723.45 K
OI Change %-0.055
Future Contracts141.92 K
Contracts Change-6.42


Put / Call Options

Call Max Traded Strike Price36000.00
Call Max Traded SP Contracts19525
Call Option Open Interest2772.65 K
Call Option OI Chg %1.08
Put Max Traded Strike Price35000.00
Put Max Traded SP Contracts22393
Put Option Open Interest2414.93 K
Put Option OI Chg %6.54

Put Call Ratio - 24/06/2021

Put Open Interest2414.93 K
Call Open Interest2772.65 K
PCR Open Interest0.871
PCR OI ReadingBearish
Put Contracts Traded122297.00
Call Contracts Traded126501.00
PCR Volume0.967
PCR Vol ReadingBearish


Price Outlook


Friends as discussed yesterday that Banknifty is in uptrend and every dip should be utilized as buying opportunity. Today Banknifty opened nearly 200 points down and gradually recovered whole day and closed nearly 400 points up. Nearly 600 points recovery from day low.
Those who have followed our yesterday strategy have definitely earned today a good profit.

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. Still  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 the week with bullish nature.
Still BankNifty can test 35984  in this rally and in downside now 35206 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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