Nifty Levels & Strategy for 31/Oct/2022

30 oct 2022

Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.

NIFTY
Nifty traded within a range & performed as expected. Profit booking was done at higher levels and buying emerged at lower levels. US market clsoed in green. SGX Nifty closed almost 200 points up. Is Nifty is getting ready to cross 18K amid ongoing global issues (Key issues to be considered are US FED hike in Nov & RBI's corrective action). Is sell on rise & buy on dips working????? However, please do review the following Nifty scorecard data which will give you clear idea about long & short positions in Calls & Puts.

NIFTY SCORECARD DATED 28/OCT/2022
NIFTY IS UP BY 50 POINTS
Name Price Previous Day Change % Change
Nifty 17787 17737 49.85 0.28%
India VIX 15.92 16.60 -0.68 -4.07%
OPTION STATISTICS BASED ON 03/NOV/2022 EXPIRY DATA
Max OI (Calls) 18200 (Open Interest: 4977800, CE LTP: 9.4)
Max OI (Puts) 17700 (Open Interest: 4514950, PE LTP: 85.8)
PCR 0.92 (PCR is in bearish zone)
Nifty Calls:
ATM: Long Buildup, OTM:Short Buildup, ITM:Short Covering, FAR OTM:Short Buildup
Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup