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Data Trends

BankNifty – For 26th 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

35796F – Selling singles from 25/8

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 25th August 2021

Open of today was within previous day’s range and BNF has seen both sided writers at the open hinting at a sideways action followed by call sellers domination who has later been scared to exit with the kind of volumes that have come for buyers. Nothing much really happened post the opening both sided writing.

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.

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

Selling singles from 25/8 need to be watched i.e. 35796F for tomorrow’s open.

Overall no conviction from writers was visible from either side for a carry trade so be open minded about BNF.

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