NIIFTY & BANKNIFTY ANALYSIS

    

Report Day: 17-Sep-24

Trading Day: 18-Sep-24

CASH MARKER:

FII-Net BUY = 482.69 Cr.

DII-Net BUY= 874.15 Cr.

INDEX FO DATA

                                FII Effective LONG =  36.39 %

                                PRO Effective LONG = (-18.52%)

                                Client Effective LONG= (-20.37%)

Interpretation of Data:

In cash Market FII & DII both bought in regular quantity, this is showing the strength in the market, bullish move may still continue.

FII has strong effective long position, which refer, they will support to the market for upside move, and Client has increased short position, it refer counter part to FII.

Good news for bulls, that PRO has significantly covered their short but short are still their, 

This new dynamics suggest that a short covering move may be due by BANKNIFTY expiry, as strong hand may neutralize their position before fed policy outcome.  

Technical Analysis NIFTY

Nifty Closes with INSIDE BAR -  DOJI with hold candle setup, forming higher low. Stable for further up move.

The trend of NIFTY is in uptrend. Looking for the up side trade only further.

Strong Support    =    25175 to 25250 

IF GAP UP (+80)

Gap up will be the strength for the market and will create panic to CE seller, market may move significantly further after making a price action.  

IF GAP DOWN (-80)

Gap down may create fear for long holder, this may generate some consolidation, therefor on gap down we may look for the price action Entry or we can initiate buy near 25275 to 25350.

IF OPEN FLAT (± 80) 

Flat opening will make hold for the position holder, and we may initiate buying above 25455, 

with price action, here personally, not looking to sell NIFTY.

Technical Analysis BANKNIFTY

Banknifty Closes positive, it show strength of the market. 

Since, tomorrow is the expiry, and the premium of options are very low i.e. below 150 (ATM), this expiry may be zero to hero expiry. The trend of BANKNIFTY is in upside. 

Strong Support    =    51800 to 51900 

IF GAP UP (+150)

Gap up will make trader book profit, we may initiate buy only after some retracement  

and make a range or any power price action candle or HHHL pattern.

IF GAP DOWN (-150)

Gap down may create fear for long holder, this may generate some correction, therefor on gap down we may look for the price action only. Look for range 51900 to 52050 to buy, but only based on the price action entry.

IF OPEN FLAT (± 150) 

Flat Opening will make hold for the position holder, and wait and watch situation to fresh trader. 

Now in this case, let the BANKNIFTY to make a range and break above 52300 with price action.

Since the bias is bullish, I personally look for bullish opportunity only.