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Data Trends

BankNifty – For 16th Sep 2021

Important References from Marketprofile

36230F – Vwap of trend day up on 30/8 and FA from 07/09

35940F – Single print buying area.

37044F – Single print selling area and pullback High from 1/9.

36828F – Vwap of uptrending imbalance day

Important References from Open interest data

36650-36710F can be the magnet for this week considering too much option writing happened at these levels any move away might retrace back here. – This is second consecutive week of option writers taking control on thursday itself.

37044F has to be held by bulls on upside otherwise 36780-36828F close at expiry tomorrow.

Calls vs Puts Activity from 15th September 2021

BNF has openend within the previous day’s range and made a retest of VPOC from 13/09 and then had a drive up after which it continued higher by making extensions higher making it Normal Varaiation day with a spike at the close.

Call and put activity is purely an intraday action today which means writers are not confident to carry their position and hence if staying above 37044F avoid call shorts.

Range for the week still remains at 37248-35940F based on current structure and data setup.

Flat or +ve open is the expectation and an open above > 37248F can bring the momentum for a test of much higher levels.

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