Data Trends

BankNifty – For September 6th 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

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 3rd September 2021

BNF saw a clean opening drive at the open on to the upside which was used to sell calls and BNF then went on to retrace to VPOC of 1/9.

Also value from last 3 days is overlapping which is a clean sign of rangebound markets so need to be careful on betting directional at the extremes. Also data also confirms that rangebound action will be in place. Range at play is 36302-37260F

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