Data Trends

BankNifty – For 8th September 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.

36876F – Single print selling area from 6/9

36780F/36300F – Single print selling area/buying area.

Important References from Open interest data

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 7th September 2021

BNF had a test of 36302F in the opening hour as expected yesterday and at the lower end of the range lacked follow through selling which led to retest of 36800F.

This rangebound action is expected to continue into tomorrow and 36495F is key level to hold for bulls and they can slowly target 36876F/37260F. Important to watch 36000CE data point.

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