Bank Nifty: Thursday - 03/11/22

2 nov 2022

Levels:
Support: 41000, 40850, 40650, 40450
Resistance: 41330, 41430, 41680, 42000
OI Data:

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Bank Nifty => Price: 41146.65
ATM: 41100 , ITM: 41000, 40900, 40800 , OTM: 41200, 41300, 41400
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Highest OI Call in Bank Nifty per OI data: 41500
Highest OI Put in Bank Nifty per IO data: 40500
Nearest Major Resistance in Bank Nifty per OI data: 41600
Nearest Major Support in Bank Nifty per IO data: 40700
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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 | > 41250 | 41150 | 41450 | 41600
-----------------------------------------
SELL | < 41000 | 41100 | 40800 | 40650
+++++++++++++++++++++++++++++++++++++++++