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Data Trends

BankNifty – For 24th August 2021

Important References from Marketprofile

36,276F – Single Print selling area – Previous Resistance where PE writers failed.

35244-287F – VPOC and buying singles from 3/8 now resistance.

35280-400F – Sell side single prints from 23/8

35820F – VWAP/VPOC from trend day

Important References from Open interest data

36145F-36070F – Zone where PE writers failed from 18/8

35964-994F – Zone where PE writers failed from 18/8

35220-240F – Resistance from Call writers on 20/8 – Not a strong one now.

Calls vs Puts Activity from 23rd August 2021

Open of today was not as expected and much higher, However After the opening we did see one sided selling accompanied by CE writers imbalance which led to a test of previous day low and from there BNF also behaved like NF by retracing till the resistance of single print area.

As per overall data from 23/8 Both sided writing was witnessed apart from follow-up from CE writers domination in the opening hour.

Good call unwinding happened and any open > 35250F and sustained there with PE writing and strength then expect 35800 on BNF.

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