Data Trends

BankNifty – For 7th Sep 2021

Important References from Marketprofile

36230F – Vwap of trend day up on 30/8 – Pivot.

35940F – Single print buying area.

37044F – Pullback High from 1/9.

36576F – Pullback low support from 02/9

36876F – Single print selling area from 6/9

Important References from Open interest data

36608F – Previous Resistance from call writers from 31/8 and support from PE writers on 1/9.

36800-36900F can be the magnet for this week considering too much option writing happened at these levels any move away might retrace back here.

Calls vs Puts Activity from 6th September 2021

BNF had a slight positive opening and had selloff again towards VPOC of 1/9 which is a magnet for this expiry. The selloff is influenced by call writers and will be a resistance to watch out.

Notably today is the 4th day of the overlap of value confirming the rangebound action and a test of 36302 is likely tomorrow.

Day is dominated by CE sellers so single print selling area of 36876F holds the key resistance.

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