Data Trends

BankNifty – For 20th September 2021

Important References from Marketprofile

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

35940F – Single print buying area.

38112F – Single print selling area from 17/9.

36828F – Vwap of uptrending imbalance day

Important References from Open interest data

Overall call side OI is still lesser than Put side OI hence any strength > 37800F needs to be taken as a favourable condition for bulls.

Things can change going forward as neither both sided nor single sided writers willing to carry their positions which calls for a big move any side.

Calls vs Puts Activity from 17th September 2021

BNF has openend within the previous day’s range and made a drive up after which it had a FA in D period (usually D period high/low can turn into swing highs/lows) after which it closed as a Neutral centre day and a followup move is required from bears for momentum considering they held their single prints.

Call and put activity is purely an intraday action today which means writers are not confident to carry their position and hence volatility explosion can continue in BNF onto monday.

Overall the structure of the profile on 9/9 doesn’t have a proper base to hold upon as it started with poor lows instead of single prints and if bears attack the vwap then a test of 36828F is imminent followed by 36230F, Bears just need to defend their 38112 and try to push BNF below 37400 and get acceptance below.

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