Bank Nifty: Friday - 02/12/22

1 thg 12, 2022

Levels:
Support: 43000, 42775, 42500, 42350
Resistance: 43350, 43630, 44000

OI Data:

---------------------------------------------------------------------|
Bank Nifty => Price: 43260.65
ATM: 43300 , ITM: 43200, 43100, 43000 , OTM: 43400, 43500, 43600
---------------------------------------------------------------------|
Highest OI Call in Bank Nifty per OI data: 43300
Highest OI Put in Bank Nifty per IO data: 43200
Nearest Major Resistance in Bank Nifty per OI data: 43700
Nearest Major Support in Bank Nifty per IO data: 42800
---------------------------------------------------------------------|

Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retraces back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).

+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 43350 | 43250 | 43500 | 43650
-----------------------------------------
SELL | < 43200 | 43300 | 43000 | 42800
+++++++++++++++++++++++++++++++++++++++++

Point to be noted: Unlike Nifty, BN RSI is pretty comfortable region.