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Data Trends

BankNifty – For 25th 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

35504F – VWAP from trend day 24/8

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

Calls vs Puts Activity from 24th August 2021

Open of today was within previous day’s range and BNF went onto test Pullback low from 23/8 and reversed and broke the call writers resistance mentioned in the last few days i.e. 35230-35280F. Once this happened call writers took an exit and the market didn’t had sellers presence and went onto test 35800 later in the day as written in the yesterday’s blog post that breakout of 35240-280F will invite 35800. The data points for this view are a short PE in 35500/35800PE seen yesterday.

As per data from 24/8 No writers conviction was there for today being a trend day notably not even Put writers were present which is usually the case so we should be open minded about BNF for this monthly expiry and follow the upcoming data.

Today’s VWAP of 35504 will be a key level to hold if the bulls want to continue their journey ahead.

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