Tuesday, June 8, 2021

BankNifty Outlook 09 June 21

  

BankNifty Outlook


Key  Data


Put / Call Options

Call Max Traded Strike Price37000.00
Call Max Traded SP Contracts24192
Call Option Open Interest3495.55 K
Call Option OI Chg %4.67
Put Max Traded Strike Price35000.00
Put Max Traded SP Contracts25625
Put Option Open Interest3025.18 K
Put Option OI Chg %4.33


Put Call Ratio - 24/06/2021

Put Open Interest3025.18 K
Call Open Interest3495.55 K
PCR Open Interest0.865
PCR OI ReadingBearish
Put Contracts Traded156432.00
Call Contracts Traded203119.00
PCR Volume0.770
PCR Vol ReadingNeutral

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Chart & Outlook



Banknifty is under performing the Nifty and showing weakness .
Still highest open interest in CE side is at 37000 and PE open interest is at 35000 level . Indicating that a short covering can be seen from the lower level .

The recent correction  in BankNifty can extend to 34800 then a short covering is expected.
So currently adopt wait and watch . If Banknifty found near 34800 levels in any dip then make long position for the potential upside level of 35378 . 


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