Welcome to Kya Lag Raha Hai Market, your daily look at NIFTY and BANK NIFTY predictions and market analysis with Abid Hassan from Sensibull. We analyse options trading by tracking candlestick patterns, price action, FII-DII data, support and resistance levels, open interest, option chain moves, trend formations, and risk-reward setups to help you navigate the markets better.
Disclaimer: This content is purely for educational purposes and does not constitute investment advice or stock tips. The aim is to help you understand derivative data, option trading strategies, and technical analysis better.
Chart Analysis
NIFTY:
- Invalidated last Friday’s bearish engulfing, but still trading below the Wednesday hanging man.
- Need to watch if 24,350 acts as resistance or breaks cleanly.
BANK NIFTY:
- Still trading below the bearish engulfing formed on Wednesday.
- No clear breakout confirmation yet.
Options Chain Data: Key Levels
- 24,300 is acting as support.
- 24,500 is the next visible resistance zone.
PCR (Put-Call Ratio): 0.91 near ATM and 1.1 overall. Indicates a moderately bullish sentiment but not strongly overbought.
Participant Options Data
- Not updated yet at the time of analysis.
Participant Futures Data
- Not updated yet at the time of analysis.
Participant Stock Data
FII Index Futures: Bought ₹2,211 Cr in index futures. OI increased by 12.5k. (Bullish)
FII Options:
- Call OI change: 8,560 (Bullish)
- Put OI change: -43,321 (Bullish)
FII Cash: Bought ₹2,474 Cr in cash. (Bullish)
Verdict
- If 24,350 breaks on a closing basis, expect more upside.
- If the index falls below 23,800, there could be a significant downside.
Trade Plan and Approach
- Watching price action carefully at the 24,350 level.
- No fresh trades until there is a confirmed breakout or rejection.
Watch the full analysis video here:
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