Thursday, June 3, 2021

BankNifty Outlook 04 June 21

  

BankNifty Outlook


Key  Data


Put / Call Options

Call Max Traded Strike Price37000.00
Call Max Traded SP Contracts28767
Call Option Open Interest3033.18 K
Call Option OI Chg %-1.40
Put Max Traded Strike Price35000.00
Put Max Traded SP Contracts19913
Put Option Open Interest2588.80 K
Put Option OI Chg %1.70

DIXON | Stock Analysis And Price Outlook 



Put Call Ratio - 24/06/2021

Put Open Interest2588.80 K
Call Open Interest3033.18 K
PCR Open Interest0.853
PCR OI ReadingBearish
Put Contracts Traded139984.00
Call Contracts Traded150934.00
PCR Volume0.927
PCR Vol ReadingBearish



Chart & Outlook


Friends we clearly mentioned yesterday that the recent correction ended now and today market will be bullish and those who followed strategy have definitely made money. 

  We also discussed that still trend is intact and this recent correction should be utilized as a buying opportunity. Now Highest CE open interest  shifted from 36000 level to 37000 level in upside and highest open interest created for the put is 35000 level . Which means BankNifty can now head towards 37000 mark.

Tomorrow if BankNifty sustain above 35714 for sometime then can test 35978 otherwise will remain sideways wholeday. In downside 35432 will act an immediate support for tomorrow.

Still Banknifty is strong , so avoid short positions . If you can't make long position then also not make bearish position too. Still overall sentiment is positive and follow buy on dips strategy.







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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